Chargeflow, a Wilmington, Delaware and Tel Aviv, Israel-based chargeback automation solution tailored exclusively for online businesses, closed an $11m financing round.
The round, which built upon a previously undisclosed $3m pre-seed round, was led by OpenView. In conjunction with the funding, Tom Holahan, a Partner at OpenView, will be joining Chargeflow’s board of directors.
The company intends to use the funds to further enhance its technology development efforts and strengthen its growth trajectory in the US market.
Led by Ariel Chen, co-founder and CEO, Chargeflow is an automated chargeback management solution, designed for e-commerce merchants. It leverages technology and Generative AI, along with human expertise, to help recover lost revenue and alleviate chargeback pains for online merchants. By analyzing millions of data points and utilizing Generative AI and machine learning modules, it processes and generates customized dispute evidence for each chargeback, significantly improving the chargeback win rate for online businesses. The platform calculates the projected success of the chargeback dispute by comparing transaction data and leveraging its comprehensive data analysis capabilities.
Chargeflow is directly integrated with Shopify and its payment processor Shopify Payments, as well as PayPal, Stripe, Klarna, Braintree, and many more.
FinSMEs
08/08/2023