Credorax Nets $40 Million in New Funding
Aug. 29, 2013
Credorax, an e-commerce acquirer and processor based in the Boston area, yesterday said it has secured a $40 million financing round from FTV Capital. Licensed and regulated by the European Union, the company mainly serves PSPs, ISOs and online merchants in the 27 eurozone countries, but it also maintains offices in Israel and Tokyo.
“We are excited to partner with FTV Capital, a value-added investor in the payments arena with an established track record of helping companies grow and scale,” said Benny Nachman, founder and CEO of Credorax. “FTV’s industry expertise, experience and unique set of relationships will significantly contribute to our organization as we look to further enhance our payments processing capabilities and expand into new markets.”
Since its launch in 2008, Credorax has raised nearly $100 million to fund its proprietary online payment processing platform and what it calls its strategy of “Smart Acquiring.”