![]() | The topic of this article may not meet Wikipedia's
notability guidelines for companies and organizations. (January 2021) |
![]() | |
Company type | Private |
---|---|
Finaro | |
Industry | Financial services |
Founded | 2007 |
Headquarters | Herzliya, Israel |
Key people | 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 finaro shift4 |
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]
In October 2023 Finaro was acquired by Shift4 [4] and now operates under the Shift4 brand name.
Credorax 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]
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]
![]() | The topic of this article may not meet Wikipedia's
notability guidelines for companies and organizations. (January 2021) |
![]() | |
Company type | Private |
---|---|
Finaro | |
Industry | Financial services |
Founded | 2007 |
Headquarters | Herzliya, Israel |
Key people | 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 finaro shift4 |
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]
In October 2023 Finaro was acquired by Shift4 [4] and now operates under the Shift4 brand name.
Credorax 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]
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]