Company:Credorax
| Type | Private |
|---|---|
| Credorax Bank Limited | |
| Industry | Financial Sector |
| 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 |
Credorax, Inc. is an online Merchant Acquiring bank and Payment service provider (PSP).[1][2] The company was established in 2007 by Benny Nachman. The company operates in the European Union, United States, and China.[3]
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][4] 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][4]
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 its European commercial banking license to operate in 32 countries.[5] Processing a volume of over $4.3 Billion in 2019.[6]
In technological terms, Credorax is both an acquiring merchant bank and a payment processing provider (PSP), via its payment gateway technology, Source, which facilitates secure multi-channel payment processing, fraud and risk management services.[7] According to The Nilson Report, in 2019, Credorax also introduced its banking technology.[5]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Credorax Banks $40M for International Expansion". The Wall Street Journal. https://www.wsj.com/articles/BL-VCDB-13289.
- ↑ "Israel's Credorax CEO Eyes $200 Million IPO to Fund Expansion". Bloomberg. https://www.bloomberg.com/news/articles/2018-10-17/israel-s-credorax-ceo-eyes-200-million-ipo-to-fund-expansion.
- ↑ "Samsung SDS to Provide Its Blockchain Platform to Credorax of Israel". Business Korea. http://www.businesskorea.co.kr/news/articleView.html?idxno=42255.
- ↑ 4.0 4.1 "Credorax raises $40 million to become a payment acquirer for the Internet Age". TechCrunch. https://techcrunch.com/2014/10/27/credorax-raises-40-million-to-become-a-payment-acquirer-for-the-internet-age/.
- ↑ 5.0 5.1 "Credorax Adds Core Banking Platform". Nilson Report. https://nilsonreport.com/mention/184/credorax/.
- ↑ "credorax financial statement". https://www.credorax.com/pdf/Credorax%20Bank%20Limited%20-%20Audited%20Financial%20Statements%202019.pdf.
- ↑ "Credorax Partners with Anti-Fraud Solution to Provide Merchants 360° Monitoring". The FinTech Times. https://thefintechtimes.com/credorax-partners-with-feedzai-for-innovative-anti-money-laundering-solution/.
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