Connect with us

Hi, what are you looking for?

Jewish Business News

Mergers & Acquisitions

Israeli fintech Finaro Acquired by Isaacman’s Shift4 for $575 Million

Shift4, controlled by CEO Jared Isaacman, also acquired the Washington-based cryptocurrency fundraising platform The Giving Block.

 Shift4 lead by controlled CEO Jared Isaacman Acquired Finaro. Igal Rotem CEO Finaro credit Danny Katri  PR
Shift4 led by controlled CEO Jared Isaacman acquired Finaro. Igal Rotem CEO Finaro / credit Danny Katri

Shift4, an integrated payment, and technology solutions firm, said today that it will acquire Israeli fintech startup Finaro (formerly Credorax), a cross-border eCommerce payments provider with a strong European footprint, and Washington-based cryptocurrency fundraising platform The Giving Block.

The $4.3 billion worth company Shift4, controlled by CEO Jared Isaacman, also acquired the Washington-based cryptocurrency fundraising platform The Giving CEO Jared Isaacman, pays $575 million for Herzliya-based Finaro. A payment of $218.5 million in cash plus shares worth $356.5 million and several tens of millions of dollars more in performance payments.

Jared Isaacman was the commander of the SpaceX flight Inspiration4, launched from Kennedy Space Center, Florida on September 16, 202.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Credorax (rebranded as Finaro last year) was founded in 2009 by two serial entrepreneurs Yigal Rotem and Benjamin Nachman. Credorax began operations after obtaining an EU banking license.

The company has raised $150 million to date in the company’s early years from investors including Blumberg, IVP, nad FTV, with yearly revenue exceeding $200 million and profit margins over 50% for several years.

Finaro will provide Shift4 with a worldwide infrastructure and cutting-edge technology necessary to support the American company’s international expansion goals, including its SkyTab point-of-sale solution, Shift4Shop eCommerce platform, and VenueNext stadium offers.

Jared Isaacman - Inspiration4
Jared Isaacman / Inspiration4

Additionally, Shift4 has over 425 software integrations and over 200,000 merchant customers, many of which have a worldwide presence and offer immediate international potential as a result of this acquisition.

These acquisitions advance Shift4’s ambitious goals to pursue a multi-trillion-dollar addressable market globally, including accelerating growth in eCommerce, gaming, restaurants, stadiums, hospitality, charitable giving, and specialty retail as well as a new capability with cryptocurrency enablement.

These companies are expected to contribute over $15 billion of end-to-end payment volume and $35 million of adjusted EBITDA in 2023.

“These two acquisitions build on the momentum from our recent investor day and underscore our aggressive efforts to deliver a unified commerce experience across the world,’ said Shift4 CEO Jared Isaacman.

The Giving Bloc

Shift4 will continue to invest in The Giving Block’s successful strategy while also perusing a $45 billion integrated cross-sell opportunity through the combination of crypto donation capabilities and standard card acceptance.

This is a fraction of the $470 billion nonprofit addressable market that Shift4 will be able to approach exclusively as a result of this acquisition.

Additionally, this acquisition adds a team of cryptocurrency and blockchain technological talent to Shift4 that will develop a Crypto Innovation Center and integrate crypto acceptance and settlement capabilities throughout Shift4’s current operations in a variety of sectors.

“Cryptocurrency is rapidly going beyond early adopters and establishing a foothold in the mainstream as more individuals seek to invest, transact, and donate in it,” Jared Isaacman remarked. “We want to lead this trend by implementing The Giving Block technology across the whole Shift4 organization.”



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.