Sales League Table 2020 | Banking Technology Winners

Results Announced!

IBS Intelligence launches BankTech Daily News

Subscribe today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

India FinTech Report 2020

Insights into the historical and projected market size of key FinTech categories. Subscribe now

Goldfinch Partners invests and acquires stake in Vesta

Ron Hynes, CEO of Vesta. 

Vesta, a global provider of a scalable suite of fraud and payment solutions for online commerce, has announced that the company has secured $125 million in new growth capital from private equity firm Goldfinch Partners.

According to Vesta, the private equity partner has also acquired a significant portion of the stake in its business. The FinTech is planning to use the funding to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions.

Vesta offers zero-risk and zero-liability payment guarantee enabling e-commerce companies to grow their businesses by focusing on revenue rather than risk. Its real-time decision-making platform is built of data science and machine learning and analyses customers’ online payment transactions to assess the risk of fraud. Vesta lets its merchants integrate seamlessly through shopping cart plug-ins, including Magento, Shopify, WooCommerce, BigCommerce, Salesforce, and SAP Commerce Cloud.

“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. 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,” said Ron Hynes, CEO of Vesta.

Vesta has continued to experience strong growth in recent months despite the uncertainties caused by the COVID-19 pandemic. Its newly opened operation in Singapore serves as the hub for Asia operations, is a testament to this momentum.

“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. We’re pleased to back the team and the company as they continue to grow and serve organizations across the e-commerce and fintech space,” said Sean Collins, managing partner and co-founder of Goldfinch Partners.

Financial Technology Partners (FT Partners) served as an exclusive financial and strategic advisor to Vesta and its Board of Directors in this transaction.

Established since 1995, Vesta is a leading FinTech company processing fully guaranteed card-not-present (CNP) payment transactions for the telecommunications industry. The company’s client portfolio includes telecommunications and e-commerce industries.

Related IBS Intelligence Research

Related Posts

NAB

NAB to recruit bankers and advisers for high net wealth clients

National Australia Bank (NAB) announced that it will recruit 50 new bankers and advisers, as part of its new strategy to provide high net wealth clients with a single point of access for their financial needs, ranging from wealth creation, business growth to retirement needs and philanthropic investment. JBWere CEO and leader for NAB Private, […]

This post is only available to members.

Read More »

EQ launches new automated complaints management product

EQ has announced that it is launching a new automated complaints management product for the financial services industry, EQ Complaints Professional. The new solution is expected to enable firms to enforce their FCA compliance immediately as well as continually as regulation changes. Andrew Edler, MD of EQ Charter, commented, “We are delighted to bring this […]

This post is only available to members.

Read More »
bank, FinTech, neobank, smartbanks, challenger banks, Asia

Australia’s big 4 banks welcome the launch of open banking

The Competition and Consumer (Consumer Data Right) Rules went live on July 1, in Australia. This has been welcomed by the big 4 banks of the country – ANZ, Westpac, Commonwealth Bank and NAB where they will be sharing their customers’ data with third parties, when requested by the customer. Angus Sullivan, CBA’s Group Executive […]

This post is only available to members.

Read More »

Lendio facilitates $8 bn in PPP loans to 100,000 small businesses

Lendio, a leading marketplace for small business (SMB) loans, announced that the company has till now facilitated $8 B in Paycheck Protection Program (PPP) loans for 100,000 small businesses. The firm’s partnership with 300 SBA-approved financial institutions and FinTech leaders has helped the company to secure COVID-19 relief funds for several underserved segments of the […]

This post is only available to members.

Read More »