Benny Nachman (Founder & former CEO) Igal Rotem (CEO since 2016) Moshe Selfin (CTO & COO)
Products
Acquiring Technology, Banking Technology, Payment Technology, Processing Services, Information Based services
Website
www.credorax.com finaro.com shift4.com
In October 2023 Finaro was acquired by Shift4[4] and now operates under the Shift4 brand name.
Historyedit
Credorax was founded as a financial technologystartup in 2007, in SouthboroughMassachusetts by Benny Nachman.[1] From its start, the company launched and developed as an online acquiring bank acting as an intermediary between issuing banks or payment service providers and e-commerce merchants.[1][5] The initial funding was provided by Blumberg Capital.[1] By 2014, the company received nearly $130 million in venture funding from Blumberg Capital, FTV capital and other investment firms.[1][5]
In 2010, the company was licensed to operate under the EU Payment Services Directive (PSD). In 2014, it obtained commercial banking license in Japan and in 2015, the company received a commercial banking license in Malta allowing it to operate within the European Union.[6] Processing a volume of over $4.3 Billion in 2019.[7]
In March 2022, Finaro announced its acquisition by US payments company Shift4 in a deal valued at USD 575 million.[8] The deal took some time to get approved by the required institutions, after which the acquisition was completed on October 26, 2023.[4] On November 13, 2023 Finaro announced that it was rebranding as Shift4 and was operating under the Shift4 brand name from that day onwards.[9]
Servicesedit
In technological terms, Finaro is both an acquiring merchant bank and a payment processing provider (PSP), via its payment gateway technology, Source, which facilitates multi-channel payment processing, fraud and risk management services.[10] According to a Nilson Report, in 2019 Credorax introduced bank account facilities for its clients.[6]
Referencesedit
^ abcdeGage, Deborah. "Credorax Banks $40M for International Expansion". WSJ. The Wall Street Journal.
^"Israel's Credorax CEO Eyes $200 Million IPO to Fund Expansion". Bloomberg.
^"Samsung SDS to Provide Its Blockchain Platform to Credorax of Israel". Business Korea. 5 March 2020.
^ ab"Shift4 Completes Acquisition of Finaro to Accelerate European Expansion and Enhance eCommerce Capabilities". Shift4. 2023-10-26. Retrieved 2023-11-22.
^ ab"Credorax raises $40 million to become a payment acquirer for the Internet Age". TechCrunch. 27 October 2014.
^"Finaro Announces its Acquisition by the American Leader in Commerce-Enabling Technology – Shift4 - in a Deal Valued at $575". Bloomberg.com. 2022-03-01. Retrieved 2023-11-22.
^"Finaro (formerly Credorax) on LinkedIn: #wearefinaro #finaroisnowshift4". www.linkedin.com. Retrieved 2023-11-22.
^"Credorax Partners with Anti-Fraud Solution to Provide Merchants 360° Monitoring". The FinTech Times. 30 June 2020.
This bank, insurance, or other financial services corporation article is a stub. You can help Wikipedia by expanding it.
finaro, topic, this, article, meet, wikipedia, notability, guidelines, companies, organizations, please, help, demonstrate, notability, topic, citing, reliable, secondary, sources, that, independent, topic, provide, significant, coverage, beyond, mere, trivial. The topic of this article may not meet Wikipedia s notability guidelines for companies and organizations Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention If notability cannot be shown the article is likely to be merged redirected or deleted Find sources Finaro news newspapers books scholar JSTOR January 2021 Learn how and when to remove this message Finaro the trading name of Credorax Inc is an Israel based online merchant acquiring bank and payment service provider PSP 1 2 Established in 2007 by Benny Nachman the company operates in the European Union United States and China 3 Credorax Bank LimitedCompany typePrivateTraded asFinaroIndustryFinancial servicesFounded2007 17 years ago 2007 HeadquartersHerzliya IsraelKey peopleBenny Nachman Founder amp former CEO Igal Rotem CEO since 2016 Moshe Selfin CTO amp COO ProductsAcquiring Technology Banking Technology Payment Technology Processing Services Information Based servicesWebsitewww wbr credorax wbr com finaro wbr com shift4 wbr com In October 2023 Finaro was acquired by Shift4 4 and now operates under the Shift4 brand name History editCredorax was founded as a financial technology startup in 2007 in Southborough Massachusetts by Benny Nachman 1 From its start the company launched and developed as an online acquiring bank acting as an intermediary between issuing banks or payment service providers and e commerce merchants 1 5 The initial funding was provided by Blumberg Capital 1 By 2014 the company received nearly 130 million in venture funding from Blumberg Capital FTV capital and other investment firms 1 5 In 2010 the company was licensed to operate under the EU Payment Services Directive PSD In 2014 it obtained commercial banking license in Japan and in 2015 the company received a commercial banking license in Malta allowing it to operate within the European Union 6 Processing a volume of over 4 3 Billion in 2019 7 In March 2022 Finaro announced its acquisition by US payments company Shift4 in a deal valued at USD 575 million 8 The deal took some time to get approved by the required institutions after which the acquisition was completed on October 26 2023 4 On November 13 2023 Finaro announced that it was rebranding as Shift4 and was operating under the Shift4 brand name from that day onwards 9 Services editIn technological terms Finaro is both an acquiring merchant bank and a payment processing provider PSP via its payment gateway technology Source which facilitates multi channel payment processing fraud and risk management services 10 According to a Nilson Report in 2019 Credorax introduced bank account facilities for its clients 6 References edit a b c d e Gage Deborah Credorax Banks 40M for International Expansion WSJ The Wall Street Journal Israel s Credorax CEO Eyes 200 Million IPO to Fund Expansion Bloomberg Samsung SDS to Provide Its Blockchain Platform to Credorax of Israel Business Korea 5 March 2020 a b Shift4 Completes Acquisition of Finaro to Accelerate European Expansion and Enhance eCommerce Capabilities Shift4 2023 10 26 Retrieved 2023 11 22 a b Credorax raises 40 million to become a payment acquirer for the Internet Age TechCrunch 27 October 2014 a b Credorax Adds Core Banking Platform Nilson Report credorax financial statement PDF Credorax com Retrieved 2019 04 07 Finaro Announces its Acquisition by the American Leader in Commerce Enabling Technology Shift4 in a Deal Valued at 575 Bloomberg com 2022 03 01 Retrieved 2023 11 22 Finaro formerly Credorax on LinkedIn wearefinaro finaroisnowshift4 www linkedin com Retrieved 2023 11 22 Credorax Partners with Anti Fraud Solution to Provide Merchants 360 Monitoring The FinTech Times 30 June 2020 nbsp This bank insurance or other financial services corporation article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Finaro amp oldid 1211542475, wikipedia, wiki, book, books, library,
