FlexFactor, a Miami, FL-based provider of decline recovery solutions for eCommerce brands, closed a $16.8 Series A funding round.
The round was led by Bessemer Venture Partners, with additional participation from seed investors.
The company intends to use the funds to further its R&D, while expanding global operations with sales and support.
Led by CEO Elio Vitucci and CCO Ze’ev Shoval, FlexFactor is advancing payment recovery, turning false declines into real sales using AI. The platform analyzes hundreds of data points to reverse failed transactions in real-time, providing a 5% average lift in sales for ecommerce merchants. It covers all decline codes for both ecommerce and subscription transactions, at no risk to merchants and no cost to customers.
FinSMEs
10/10/2024