Investment and partnership will accelerate Vesta’s expansion of fraud and approval enhancement platform across the Asia Pacific region
Vesta, a fintech pioneer in fraud protection and fully guaranteed payment technologies, has secured a strategic investment from EDBI, a global Asian-based investor. This investment, along with a strategic alignment with EDBI, will accelerate the company’s momentum and efforts to expand its fraud and approval enhancement platform across Asia Pacific (APAC). Vesta will have its regional headquarters in Singapore.
Hailing from Portland, Oregon, Vesta recently raised $125 million in new growth capital from private equity firm Goldfinch Partners. The funding provides the company with the resources to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions.
“We are excited to accelerate the execution of our strategy in APAC. The opportunity to partner with EDBI is exciting and this new investment really sets us up to go fast. Singapore is a natural spot from which to centralize our APAC operations. The combination of a dynamic business environment, first-class infrastructure and talent, and its central location for accessibility to the entire region, coupled with EDBI as our partner, made Singapore an easy choice,” said Ron Hynes, CEO of Vesta.
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Vesta enables companies to grow their online businesses by eliminating the fear of fraud. This allows customers to focus on what really matters for success, growing revenue. Vesta’s real-time decisioning platform – built on data science and machine learning with more than 25 years of intelligence – analyses customers’ online payment transactions to assess the risk of fraud and is backed by Vesta’s zero-risk, zero-liability payment guarantee, meaning customers never have to worry about the risk of fraud again. Removing the fear of fraud also decreases the likelihood of incorrectly declining good customer transactions and increases revenue. Vesta provides its service directly to partners in the telecommunications and e-commerce industries around the globe and also allows merchants to seamlessly integrate through commerce and payments platforms including Plaid, Shopify, and Verifone.
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