Proceeds will be used to further enhance the company’s technology platform, client service, distribution capabilities and geographic footprint, it said.
“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.”
“Credorax’s differentiated technology-driven approach to e-commerce acquiring is what attracted us to the business,” added Chris Winship, FTV Capital partner and new Credorax board member. “We are very impressed with the execution to-date and look forward to helping the company continue to deliver innovative solutions to PSPs, ISOs and merchants while growing their presence in Europe, the US and internationally.”
FTV Capital has over $1bn under management and focuses on business services, financial services, payments/transaction processing and technology.
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