While the economy recovers and rebuilds from the COVID-19 pandemic, some companies are still growing, including Oregon-based e-commerce leader Vesta. Consumer trust and merchant safety are as important as ever, and the fintech pioneers are preparing for a welcome period of expansion during 2020’s uneasy global conditions.
Since 1995, Vesta has pioneered fully-guaranteed CNP fraud prevention, enabling companies to focus on revenue and growth rather than risk and liability. Vesta’s innovative real-time decisioning platform ensures higher rates of secure, successful transactions, reducing fear of fraud, and increasing profitability. With a new Asian hub in Singapore, the company is accelerating its anticipated expansion in the e-commerce market, focusing on enhancing technology and developing new products.
“It is a strange time of both extreme volatility and opportunity in the global e-commerce space,” says Ron Hynes, CEO. “My hope is that Vesta continues to solve for the bigger need of returning prosperity to the global online marketplace by providing certainty to merchants so they can stop worrying about fraud and get back to serving their customers and growing their businesses.”
Vesta’s expansion is fueled in part by a robust capital infusion from private equity firm Goldfinch Partners. The investment of $125 million is critical to the company’s continued deployment of its fraud protection and e-commerce solutions. Vesta is already fueling platforms like Shopify, Salesforce, and Vodafone Group, so the company is focused on product development and expansion within its current market. The addition of capital will spark additional hiring, marketing strategies, and more extensive branding efforts.
As the world has adapted to a global pandemic, contactless payment has been embraced globally by consumers and businesses alike. Since Vesta already processes and protects billions of dollars in transactions annually, it is uniquely prepared for this evolution and growth. Amidst unprecedented challenges, the company aims to remove the stress of potential fraud by accurately catching it before it’s too late, one service that is incredibly undervalued.