Chargebacks911’s Latest Investment Enhances Ongoing Global Expansion Efforts
Chargebacks911® is pleased to announce an investment in London-based technology company, Veridu.
As a world-renowned leader in the fields of risk mitigation and revenue retention, Chargebacks911® carefully considers any strategic acquisitions and expansion opportunities that will further enhance the company’s explosive growth. After analyzing dozens of other companies, Chargebacks911® chose to invest in innovative Veridu because of the strategic alignment their technology offers.
Chargebacks911® Partners with Veridu
Veridu is a unique identity verification platform, utilizing innovative authentication technology. The company is able to verify an online shopper’s identity by consulting social media platforms.
Veridu’s service helps merchants reduce fraud exposure while also keeping false positives to a minimum. These capabilities are vital to eCommerce success. As Gary Cardone, president and CEO of Chargebacks911® notes:
It is imperative that merchants consider how risk management strategies will impact revenue. The joint intelligence of Veridu and Chargebacks911® enables merchants to reduce risk without incurring unnecessary revenue loss. We believe this technology will become a crucial element for eCommerce success.
This latest investment underscores Chargebacks911®’s ongoing efforts to provide solutions that ensure maximum revenue retention through effective risk mitigation.
Investing in Innovation
Chargebacks911® is committed to providing the most cutting-edge, dynamic solutions to the entire eCommerce ecosphere.
By combining Chargebacks911®’s patented processes with Veridu’s innovative technology, merchants have access to an unparalleled agile platform that is uniquely suited to mitigate eCommerce fraud.
Coming alongside other Veridu investors, like payments giant Worldpay, allowed Chargebacks911® to become an influential shareholder and increases the company’s already impressive global scale and scope.
Rasmus Groth, CEO and founder at Veridu, remarks:
The investment from Chargebacks911® is testament to the advanced machine-learning technology we have succeeded in developing at Veridu over the past couple of years. With this, we’re able to identify and stop fraud, limiting chargebacks and saving vital revenue at a time of tight profit margins.
Cardone added:
We have looked at dozens of similar investments over the last couple of years and are very impressed with Veridu's technology, leadership, and composition.”
Chargebacks911® is pleased to add this new venture to the company’s growing list of strategic industry alliances and is excited to see this joint endeavor flourish in the years to come.
More information can be found here.
