Finaro

Cross-border Payment Provider

Fintech & Insurtech
Acquired (Inactive) by Shift4 on Mar 2022 - closed due to acquisition

Company Overview

Snapshot

Founded in January 2008, Finaro, formerly Credorax, grew to 201–500 employees. The company secured total funding of $172.61M across 7 funding rounds from 7 investors. In March 2022, Finaro was acquired by Shift4, marking a significant exit for the cross-border payment provider.

Business overview

Finaro, operating in the Fintech & Insurtech sector, is a smart payment provider and fully licensed bank specializing in cross-border processing for eCommerce and omni-channel payments. The company's core technology, Source, is an in-house developed gateway designed to offer a secure and streamlined payment experience. Finaro serves merchants by enabling them to accept over a hundred cards and local payment methods, receive payments in their currency of choice, and benefit from approval rate optimization, advanced anti-fraud protection, and business intelligence tools. The company operates in markets across Europe, Australia, South America, and North America.

Strategic signal

In December 2021, Finaro, previously known as Credorax, underwent a significant rebranding. This strategic move signaled the company's evolution and its commitment to a refreshed identity in the competitive global payments landscape, aiming to reinforce its position as a leader in cross-border payment solutions.

Company Intelligence Q&A

What was a significant corporate milestone for Finaro?
In March 2022, Finaro was acquired by Shift4, a multinational payment processing company. This acquisition marked a major exit for Finaro, integrating its cross-border payment capabilities into a larger global entity.
When did Finaro rebrand from Credorax?
In December 2021, the global payments leader Credorax officially rebranded as Finaro, signifying a new chapter for the company in the fintech industry.
Which investors participated in Finaro's October 2014 funding round?
In October 2014, Finaro received funding from investors including Blumberg Capital.
What was the strategic partnership announced by Finaro in November 2022?
In November 2022, Finaro partnered with EveryPay to enhance in-store payment acceptance, aiming to improve payment solutions for merchants.

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