Vesta, a fintech pioneer in fraud protection and fully guaranteed payment technologies, has secured $125 million in new growth capital from private equity firm Goldfinch Partners. The funding will provide Vesta with the resources to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions.
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“Vesta’s CEO Ron Hynes and his team have broadened the firm’s product range and entered new markets, giving new life to a pioneer and longtime leader in the card-not-present payments space”
Vesta enables e-commerce companies to grow their businesses by focusing on revenue rather than risk, with its zero-risk and zero-liability payment guarantee. Vesta’s real-time decisioning platform — built on data science and machine learning with more than 25 years of intelligence — analyzes customers’ online payment transactions to assess the risk of fraud. Eliminating the fear of fraud and ensuring that more good transactions are approved increases revenue and ultimately profits. Today, Vesta provides its service to partners in the telecommunications and e-commerce industries and allows merchants to seamlessly integrate through shopping cart plug-ins, including Magento, Shopify, Salesforce, WooCommerce, BigCommerce and SAP Commerce Cloud.
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“Since taking over as CEO in July of last year, I have refocused the company on product development, market expansion and technology enhancements. This capital infusion from Goldfinch Partners provides us the fuel to accelerate our efforts,” said Ron Hynes, CEO of Vesta. “The fact that we were able to complete this funding in the current environment is confirmation of the market need for our solution and a tremendous nod to our talented team. I couldn’t be more pleased to have Sean Collins, Bill McNichols and the entire Goldfinch team join us in this exciting ride.”
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