Finaro

Founded in 2008, Finaro is a payment solutions provider based in Southborough, MA, that specializes in delivering comprehensive and integrated payment processing services for various industries. Finaro operates as a payment solutions provider offering integrated payment processing services for businesses. The company was established in 2008 in Southborough, Massachusetts, and has undergone strategic changes to better serve its clients. The founder, Eugene Volkov, has a history of involvement in the tech industry.

Finaro was acquired by Shift4 Corporation in March 2022 for USD 575 mn, enhancing Shift4's capabilities in providing global omni-channel payment solutions. The company has participated in a total of 6 deals since its inception, with its latest funding round being a Trade Sale worth USD 575 mn, the total amount raised by the company. Finaro offers an end-to-end commerce solution that integrates payment processing and technology to streamline transactions across various sectors. Their core services include mobile point-of-sale (POS) systems, contactless payment solutions, and online payment gateways, which cater to industries such as food and beverage, hospitality, airlines, and gaming.

Finaro's technology is utilized by numerous clients globally, particularly in major markets such as the United States, the United Kingdom, and Europe, facilitating seamless transactions for a diverse range of businesses. Finaro generates revenue primarily through payment processing services, which involve transaction processing fees and the utilization of its technology platforms. The company operates on a B2B model, directly collaborating with merchants who use its POS systems and payment gateways. Clients can engage with Finaro through various pricing structures, ensuring services are tailored to their business needs.

Following its acquisition by Shift4 Corporation in March 2022, Finaro plans to leverage the recent funding of USD 575 mn to enhance its product offerings and expand its market reach. The company aims to develop new solutions tailored for emerging payment technologies and enhance its integration capabilities. Additionally, Finaro is focusing on expanding into new geographic regions, particularly in Europe and Asia, by the end of 2023 to capture a larger share of the global payment processing market.