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Credorax, a Boston-based company that has developed a platform for taking the headache out of processing payments, announced today that it has received a $40 million investment from growth equity investor FTV.
The company’s “ePower” platform, which is currently licensed across all European Union countries, makes it easy for merchants to start processing payments, offers built-in fraud protection tools, and gives them a way to analyze their payments. Credorax says it will use the funding to continue building its platform, client support, and global footprint.
Not surprisingly, Credorax focuses on e-commerce and mobile commerce transactions. Given the accelerating growth of online sales and mobile shopping, companies like Credorax are a hot investment for financial firms. (Blumberg Capital’s David Blumberg named Credorax one of the top startups to watch this year.)