Finaro announces its acquisition by Shift4

By Edlyn Cardoza

Finaro (formerly Credorax), a global cross-border payment provider and fully licensed bank empowering international commerce through simple payment solutions, recently announced that it has entered into an agreement with Shift4 for its acquisition in a deal worth $575 million. The combined offering of both companies creates a complementary synergy of a global payments powerhouse with significant card-present and card-not-present expertise across a range of verticals serving large, complex merchants with unique solutions. Together, Finaro and Shift4 will be better positioned to provide merchants with a global omnichannel payment solution and stand alongside some of the most prominent players in the payments industry, including Adyen, Nuvei and WorldPay.

“This acquisition underscores our aggressive efforts to deliver a unified commerce experience across the world. This deal clearly shows our ability to support existing transformational and global customers like SpaceX Starlink & St. Jude Children’s Research Hospital,” said Shift4 CEO Jared Isaacman.

Finaro will provide the global infrastructure and cutting-edge technology needed to drive Shift4’s international ambitions to deliver a unified commerce experience. By integrating Finaro’s capabilities, Shift4 will be able to expand its current services worldwide, including its next-generation SkyTab POS solution, Shift4Shop e-commerce platform, and VenueNext stadium offering. Shift4 also has more than 425 software integrations and over 200,000 merchant customers, many of which have a multinational presence and provide immediate international opportunities that can now be unlocked as a result of this acquisition.

“This acquisition emphasizes that we have accomplished what we set out to achieve – building reliable payment processing capabilities that are truly limitless in reach and scale. Being able to apply this technology to SpaceX’s Starlink program and others similar in scope, while also offering our merchants and partners around the world a broader range of products and services, is the realization of this goal in the most concrete manner, and we are thrilled to join the Shift 4 team,” said Igal Rotem, CEO, Finaro.