SaaS based dispute management provider Chargeback raises $6.6 mn in Series A1

Source: IBS Intelligence 2020-06-10

Chargeback, automated dispute management and Real-time resolution provider for merchant has announced the completion of $6.6 million Series A1 funding led by FINTOP Capital and Next Frontier Capital. The finance round also saw participation from existing investors including Next Coast Ventures and Kickstart Fund.

The company is planning to use the investment to accelerate its capacity to help merchants decrease disputes, increase win rates, optimise acceptance rates, and retain more revenue. The finance will also help the company accelerate its mission to alleviate the pain of managing disputes for both U.S. and international merchants.

“The support of FINTOP and Next Frontier allows us to continue to execute on our accelerated growth strategy and innovation goals immediately. With the rise of e-commerce spending during the COVID-19 pandemic, merchants have seen a rise in fraud and disputes. I am thrilled that we are poised to continue our track record of helping merchants retain more of their hard-earned revenue — now and for years to come,” said Chargeback CEO John Munro.

Founded in 2011, Chargeback is on a mission to disrupt the current status quo of manual labour and outsourced dispute management. Chargeback offers a SaaS solution for the real time management of disputes. It combines the best of both dispute management options: the expertise and efficiency of outsourcing and the irreplicable domain knowledge of the in-house team. The platform reduces operational overhead, optimizes retained revenue, increases acceptance rates, and improves the customer’s experience.

“We are thrilled to add rapidly growing Chargeback to our fintech portfolio. In a space that is historically labor intensive and slow to adopt technology, the Chargeback SaaS platform has made them a clear leader in the dispute management space. The way Chargeback couples automation, data aggregation and deep insights helps merchants easily and quickly scale, optimize revenue and provide a better customer experience,” said John Phillpott, partner at FINTOP.

FINTOP’s experience in FinTech offers Chargeback both strategic as well as technical support as it expands solutions that effectively replace arcane manual dispute management processes with its streamlined, revenue-protecting platform.

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SaaS based dispute management provider Chargeback raises $6.6 mn in Series A1

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