Credorax Secures $40M in Funding

Credorax, a Southborough, MA-based provider of online payment processing and acquiring bank services for digital merchants, secured $40m in funding.

Backers included Columbus Nova Technology Partners ($25M) and existing investor Blumberg Capital ($15M).

This new round of funding, coupled with existing from FTV Capital and Mobile Internet Capital, brings total investment to over $100m.

Led by Benny Nachman, founder and CEO, Credorax provides smart acquiring solutions based on its proprietary payment platform, ePowerâ„¢, built to optimize the payment and acquiring lifecycle process for multi-channel retail environments. It allows merchants and payment service providers to conduct all of their online payments business through one source instead of fragmented solutions dispersed in different “silo” global regions.
The company is a member of Visa and MasterCard and a PSD-licensed financial institution in Europe and a licensed Acquirer in 28 countries.

FinSMEs

29/10/2014

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