Finaro
Cross-border Payment Provider
Company Overview
Snapshot
Founded in January 2008 by Benjamin Nachman, Finaro operated with 201–500 employees. The company raised a total of $172.61M across 7 funding rounds from 7 investors. A significant milestone was its acquisition by Shift4 in March 2022.
Business overview
Finaro, formerly Credorax, is a smart payment provider and fully licensed bank specializing in cross-border processing for eCommerce and omni-channel payments. The company leverages its proprietary gateway technology, Source, to deliver secure and streamlined payment experiences for merchants. Finaro supports over a hundred card and local payment methods, enabling merchants to accept payments and receive funds in their currency of choice. Its offerings include approval rate optimization, advanced anti-fraud protection, business intelligence, and various value-added services, primarily serving the Fintech & Insurtech sector, with a focus on eCommerce and financial services.
Strategic signal
In March 2022, Finaro was acquired by Shift4 for $575 million. This acquisition signals a strategic consolidation within the payments industry, allowing Shift4 to expand its global processing capabilities and Finaro to integrate into a larger ecosystem, potentially enhancing its reach and service offerings for merchants worldwide.
Log in to access full profile ›Company Intelligence Q&A
- When was Finaro acquired?
- Finaro was acquired by Shift4 in March 2022.
- What was Finaro's former name?
- Finaro was formerly known as Credorax.
- What was a key partnership for Finaro in 2022?
- In November 2022, Finaro partnered with EveryPay to enhance in-store payment acceptance.
- Which investor participated in Finaro's April 2013 funding round?
- In April 2013, Blumberg Capital led a funding round for Finaro.
- What was a significant product development for Finaro in 2020?
- In November 2020, Finaro (then Credorax) added Google Pay and Apple Pay to its payment methods offering.