Finaro
An Israel-based online merchant-acquiring bank and payment service provider formerly known as Credorax.
Last updated August 31, 2026
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Overview
Finaro was the trading name of Credorax, Inc., a financial-technology company focused on online merchant acquiring, payment processing, and related risk-management services. The business was established in 2007 by Benny Nachman, Michael Fainshtein, and Eugene Volkov, with its early development associated with Southborough, Massachusetts, and later operations centered in Israel. Rather than operating primarily as a consumer-facing payments brand, Finaro served merchants, payment providers, and other commercial partners that needed access to acquiring infrastructure, payment gateways, and cross-border transaction capabilities. The company was created as an online acquiring bank and payment intermediary. Its role was to connect e-commerce merchants with issuing banks, card networks, payment-service providers, and other elements of the payments ecosystem. This model allowed it to support card-not-present commerce and international transactions while combining banking permissions with software and processing capabilities. Its services included merchant acquiring, payment acceptance through gateway technology, fraud and risk management, and multi-channel transaction processing. Credorax obtained authorization under the European Union Payment Services Directive in 2010. It later expanded its regulatory and commercial footprint through a commercial banking license in Japan in 2014 and a commercial banking license in Malta in 2015. The Maltese authorization supported its ability to operate within the European Union. The company also developed a substantial technology platform, known as Source, for payment routing and processing across different channels. In 2019, the business processed more than $4.3 billion in payment volume, according to the reference material. Funding supported the company’s expansion. Blumberg Capital provided initial funding, and by 2014 Credorax had reportedly attracted approximately $130 million from Blumberg Capital, FTV Capital, and other investors. The company’s growth reflected the broader expansion of digital commerce and the demand for specialized acquiring banks capable of supporting merchants operating across multiple jurisdictions. In 2022, United States payments company Shift4 announced an agreement to acquire Finaro in a transaction valued at $575 million. The transaction required regulatory and other institutional approvals and was completed on October 26, 2023. On November 13, 2023, Finaro announced that it had rebranded as Shift4 and would operate under the Shift4 name. As a result, Finaro ceased to function as a standalone brand, although its acquiring, banking, technology, and international payments capabilities became part of Shift4’s broader payments platform.
History
Credorax was founded in 2007 as a financial-technology startup by Benny Nachman, Michael Fainshtein, and Eugene Volkov. The company’s early development was associated with Southborough, Massachusetts, and its initial financing came from Blumberg Capital. It was designed as an online acquiring bank and payment intermediary, serving e-commerce merchants and connecting them with issuing institutions, payment providers, and other participants in the card-payment system. The company combined regulated financial services with payment technology. Its business model addressed merchants that required online acquiring, payment acceptance, transaction routing, and support for international commerce. In 2010, Credorax obtained authorization under the European Union Payment Services Directive. This provided a regulatory foundation for payment services in the European market. The company continued expanding its licensing and operating capabilities, receiving a commercial banking license in Japan in 2014 and a commercial banking license in Malta in 2015. The Maltese license enabled it to operate within the European Union as a regulated banking and payments business. Credorax raised substantial venture funding during its expansion. By 2014, it had reportedly received close to $130 million from Blumberg Capital, FTV Capital, and other investment firms. The financing supported the development of its acquiring infrastructure, international presence, and payment-processing technology. Its technology offering included Source, a payment gateway designed to facilitate multi-channel processing as well as fraud and risk-management functions. The company also introduced bank-account facilities for clients, according to a 2019 industry reference cited in the source material. The business achieved significant transaction scale as digital commerce expanded. It processed payment volume of more than $4.3 billion in 2019. Its activities covered the European Union, the United States, China, and Japan, although the company’s regulatory and operating structure evolved over time. The Credorax name was later associated with the trading name Finaro, reflecting the company’s positioning as a broader international payments and acquiring provider. In March 2022, Shift4, a United States payments company, announced plans to acquire Finaro. The proposed transaction was valued at $575 million and required approval by the relevant institutions. After the approval process, the acquisition was completed on October 26, 2023. Finaro then announced on November 13, 2023, that it had rebranded as Shift4 and would operate under the Shift4 brand. This ended Finaro’s life as a standalone operating brand and placed its acquiring bank, payment-processing operations, and technology capabilities within Shift4.
- 2023
Acquisition and rebranding
[1]Shift4 completes the acquisition on October 26, and Finaro announces in November that it will operate under the Shift4 brand.
- 2022
Shift4 announces acquisition
[1]Shift4 announces an agreement to acquire Finaro in a deal valued at $575 million.
- 2019
Payment volume exceeds $4.3 billion
[1]The company processes more than $4.3 billion in payment volume during the year.
- 2015
Maltese commercial banking license
[1]Credorax receives a commercial banking license in Malta, supporting its regulated operations within the European Union.
- 2014
Japanese banking license and major funding milestone
[1]The company obtains a commercial banking license in Japan. By this period, it had reportedly raised nearly $130 million from Blumberg Capital, FTV Capital, and other investors.
- 2010
European payment-services authorization
[1]Credorax receives authorization to operate under the European Union Payment Services Directive.
- 2007
Credorax is founded
[1]Benny Nachman, Michael Fainshtein, and Eugene Volkov establish Credorax as a financial-technology company focused on online acquiring and payment services.
Products and positioning
A regulated, technology-enabled acquiring bank and payment service provider for e-commerce merchants and cross-border digital commerce.
Payment gateway and processing technology
Source
Source was Finaro’s payment gateway technology. It supported payment processing across multiple channels and incorporated capabilities for transaction handling, fraud detection, and risk management. The platform formed part of the company’s effort to combine acquiring-bank infrastructure with software services for online and international merchants.
Merchant acquiring · 2007
Online merchant acquiring
Finaro provided acquiring services for e-commerce merchants, acting between merchants, issuing banks, payment providers, and card-payment infrastructure. The service was intended to support card-not-present transactions and international online commerce.
Payments risk services
Fraud and risk management
The company’s payment technology included fraud and risk-management functions intended to help merchants evaluate transactions and manage exposure in online commerce.
Banking services · 2019
Client bank-account facilities
Credorax introduced bank-account facilities for clients, extending its role beyond transaction processing into related regulated banking services.
Brand decisions
2023
Rebranding as Shift4StrategyBackground
Following completion of the acquisition, Finaro was incorporated into Shift4’s operating structure.
Action taken
Finaro announced that it would operate under the Shift4 name from November 13, 2023.
Aftermath
Finaro ceased operating as a standalone brand, while its payment and acquiring capabilities continued within Shift4.
2022
Agreeing to Shift4 acquisitionM&ABackground
Finaro operated across acquiring, payment processing, and regulated banking markets, while Shift4 sought to expand its international payments capabilities.
Action taken
Finaro agreed to be acquired by Shift4 in a transaction announced at a value of $575 million.
Aftermath
The transaction proceeded through the required approval process and was completed in October 2023.
Transaction value. US$575 million (Announced in 2022)
Recent events
Credorax and Hostinger announce payment-processing partnership[2]
Reported:
Credorax and Hostinger announced a partnership enabling Hostinger to accept and process cross-border payments globally in more than 120 currencies.
Credorax partners with Hero Gaming[3]
Reported:
Credorax and Hero Gaming announced a collaboration under which Credorax will provide acquiring services to enable Hero Gaming to accept and process payments from players across Europe.
Credorax and Raisin announce a partnership to offer deposits in Germany[4]
Reported:
Credorax and Raisin announced a partnership to make retail deposit products available to Raisin customers in Germany through Raisin's German platform WeltSparen.
Credorax announces its first banking products in Germany[4]
Reported:
Credorax announced its first banking products in the region through its partnership with Raisin; the products are to be offered to Raisin customers in Germany.
Sources4 sources
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