Goldfinch buys 80% stake in Vesta for $125 million
By MYBRANDBOOK
To acquire 80% stake in Vesta, Venture capital firm Goldfinch Partners has spent $125 million. Vesta is a fraud protection and e-commerce payments outfit.
Vesta’s real-time platform is built on data science and machine learning. It analyses customers’ online payment transactions to assess the risk of fraud. It also provides shopping cart plug-ins to major e-commerce marketplaces such as Magento, Shopify, Salesforce, WooCommerce, BigCommerce and SAP Commerce Cloud.
The firm recently opened an operational hub in Singapore for expansion into Asia, and says the equity will enable it to continue to invest in growth and global deployment.
“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,” says Vesta Chief Ron Hynes. “The fact that we were able to complete this funding in the current environment is confirmation of the market need for our solution.”
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