FlexPay Raises $6M in Funding

flexpayFlexPay, a Montreal, Canada-based company which uses AI and machine-learning to allow merchants to recover lost revenues from declined transactions, raised $6m in funding.

The round was led by Impression Ventures, with participation from BMO Capital Partners, Anges Qu├ębec and strategic partners.

The company intends to use the funds to continue to expand operations and its business reach.

Led by Darryl Hicks, CEO, FlexPay delivers AI-driven decline salvage rates for eCommerce subscription-based merchants, by pairing technology with proprietary data. The platform leverages AI and machine-learning to analyze billions of transaction records to reverse-engineer exactly why risk-mitigation systems are falsely declining transactions.
The system then uses this real-time data to optimize credit card recovery and get valid transactions approved.

FinSMEs

09/12/2019

 

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