Ethoca, a Toronto, Canada- and Austin, TX-based provider of collaboration-based technology solutions for card issuers and online merchants, raised USD$45m minority growth equity investment.
The round was led by Spectrum Equity. In conjunction with the funding, Spectrum Equity Managing Director Christopher Mitchell, joined Ethoca’s board.
Led by Andre Edelbrock, CEO & Co-Founder, Ethoca provides collaboration platform and alerting technology for card issuers and merchants to stop fraud, increase acceptance on good transactions and improve customer satisfaction.
Ethoca Alerts provides an early warning on fraud and disputes that have already been confirmed by cardholders, giving merchants the opportunity to stop fraud, halt the delivery of goods and service, and issue refunds to avoid impending chargebacks.
Customers include top ecommerce merchants, large digital goods brands, more than 80,000 enrolled merchant descriptors and 30 card issuers worldwide.
The company will use the funds to continue to expand operations into new territories in 2015 and 2016, including Germany, Spain, Portugal, Turkey, China, Southeast Asia, New Zealand, South Africa, Brazil and Mexico.