Money Makers Mentor

Payfone Raises $100 Million Under Advisement of Apax

Today Apax Partners announced that Payfone, led by funds under the advisement Apax Digital, raised $100 million. Payfone will use the money to: acquire strategic assets, further strengthen its machine learning capabilities, and build a cross-industry consortium.

Rodger Desai, CEO of Payfone, said: “The mobile phone is rapidly becoming the secure passport for navigating our digital lives. With one in three US consumers already authenticated by Payfone, this investment accelerates our ability to set the standard for the authentication process. As we build out a cross-industry consortium, more enterprises will be able to access Payfone’s real-time fraud and risk signals to prevent account takeovers while passing more transactions.”

Daniel O’Keefe, Managing Partner of Apax Digital said:…

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