ProcessOut provides a smart routing service that automatically sends each online transaction to the best payment service provider to lower fees and reduce declines. Co-founder and CEO Cyril Chemla says ProcessOut “acts like those payment teams” used by large companies to optimize payments. The company offers Telescope, a free monitoring tool that analyzes transactions and gives recommendations, and a checkout module that intermediates between customers and multiple payment providers while storing card information. ProcessOut’s routing works with dozens of payment service providers and is “slowly learning how each bank works” to improve acceptance rates and redundancy. The startup charges 1c to 5c per transaction, which it says represents less than 10% of customers’ savings on fees and failed transactions, and its biggest clients reportedly save substantial amounts. Customers mentioned in the article include Datadog, BlaBlaCar and Vente-Privée, and the company is backed by Techstars and 50 Partners after a recent angel raise.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Feb 2018