Midigator, a payment card chargebacks management platform, has picked up a $30m minority growth investment from LLR Partners.
The company offers an automated software platform to prevent, analyse and manage payment card chargebacks, driving revenue and lowering costs. It also offers chargeback prevention alerts, chargeback representments, and real-time data analytics and reporting.
Through the platform, Midigator claims users can prevent fraud and access real-time account monitoring to help fight chargebacks to win revenue back. It can also be integrated with a user’s CRM and credit card processors through technology, allowing it to automatically download chargeback notifications and match them to the original order.
Through the investment, the company hopes to expand its product capabilities, increase sales growth and build upon its market position.
Midigator founder and CEO Corey Baggett said, “Merchants, small and large, are struggling to keep pace with the rapid growth of fraud and payment card chargebacks. Midigator’s fully-automated software platform is uniquely positioned to help processors, acquiring banks, ISOs and merchants prevent and manage chargebacks.”
Last month, the firm pulled in $945m for its fifth flagship fund, which it will use to support companies in the education, FinTech, healthcare, security and software industries.
Other FinTechs in LLR’s portfolio include financial health rating platform Rapid Ratings, POS business Phreesia, and digital transaction management solutions company eOriginal.
In 2016, the private equity firm led eOriginal’s $26.5m funding round. The Baltimore-based software-as-a-service firm offers digital transaction technology tools for businesses such as electronic signatures, an asset management platform and compliance solutions. It operates across a number of financial sectors including marketplace lending, vehicle and equipment financing, and banking.
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