NoFraud Announces Investment from PSG

▤ Summary

Serving over 1,200 merchants today, NoFraud integrates with payment gateways across multiple platforms, including Shopify, BigCommerce, and Magento, to eliminate card-not-present fraud and chargebacks. “As we continue to innovate and build on our success, we’re thrilled to partner with PSG, a team with a long history in software who truly understands our business.” “NoFraud is delivering essential services to e-commerce merchants at a time when their businesses are experiencing exponential growth, giving small-to-medium sized businesses a full-service tool that is not only meant to protect but boost their bottom line,” said Adam Marcus, Managing Director at PSG. “We’re excited to work with the team at NoFraud through their next phase of growth and support their continuing innovation as they look to expand their capabilities.” The investment comes at a time in which the risk of online transaction fraud has not only increased dramatically but is also growing faster than overall e-commerce volume. “As the transition to e-commerce accelerates, we will continue to evolve our platform to meet the expanding needs of customer base and ensure a seamless, fully-integrated experience.” Weil, Gotshal & Manges LLP served as legal advisor to PSG. Having backed more than 60 companies and facilitated over 250 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams.

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