Finaro
Cross-border Payment Provider
Company Overview
Snapshot
Founded in January 2008 by Benjamin Nachman, Finaro operated with 201–500 employees and raised a total of $172.61 million across 7 funding rounds. The company was acquired by Shift4 in March 2022.
Business overview
Finaro, a fintech and insurtech company, provided smart payment solutions as a fully licensed bank, specializing in cross-border processing for eCommerce and omni-channel payments. Its in-house developed gateway technology, Source, offered a secure and streamlined payment experience, enabling merchants to accept over a hundred card and local payment methods. Finaro served the financial services and commerce & retail sectors, offering services like approval rate optimization, anti-fraud protection, and business intelligence.
Strategic signal
In March 2022, Finaro was acquired by Shift4 for $575 million, marking a significant exit for the company and its investors. This acquisition highlights the strategic value of Finaro's cross-border payment processing capabilities and its proprietary gateway technology within the rapidly consolidating fintech landscape, signaling strong market demand for robust payment infrastructure.
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.