Schwarzwald Capital and Vesta team up to fight digital fraud

Schwarzwald Capital, a Cyprus-based venture capital firm with a focus on fintech and the creator economy, announced on Monday a strategic investment in Vesta, a specialist in fraud prevention and transaction guarantee solutions.

According to the announcement, “the move signals Schwarzwald Capital’s deepening commitment to safer and more efficient digital commerce”.

The company noted that Vesta, headquartered in Atlanta, Georgia, “has operated at the forefront of digital fraud prevention for nearly 30 years”.

It added that the company serves more than 40 countries and processes over 100 million transactions annually, specialising in online and card-not-present payments.

“With this investment, Schwarzwald Capital strengthens its commitment to fostering a more secure and efficient digital economy,” the company said.

“Vesta’s cutting-edge fraud prevention technology has earned the trust of global investors, including Goldfinch Partners which acquired Vesta in 2020,” it added.

Moreover, the company explained that as part of this effort, Schwarzwald Capital and Vesta are set to establish a joint venture “aimed at de-risking the industry from fraudulent transactions, ensuring greater trust and transparency in digital commerce”.

“We are thrilled to partner with Vesta to drive innovation in fraud prevention,” said Kyrillos Akritidis, Co-Founder and Managing Director of Schwarzwald Capital. “For millions of creators, seamless and secure payments are the backbone of their businesses.”

“Together with Vesta, we aim to develop groundbreaking solutions that empower the creator economy and revolutionise digital transactions,” he added.

Todd Curry, CEO of Vesta, welcomed the collaboration. “By combining Vesta’s deep expertise in fraud prevention with Schwarzwald Capital’s fintech acumen, we believe our partnership will help reduce transactional risk across a broad array of digital transactions,” he said.

“We are excited about breaking new ground with Schwarzwald,” Curry added.

The announcement went on to say that “with digital transactions continuing to rise, this investment marks a significant milestone in advancing secure, real-time digital payments, ensuring that businesses and individuals alike can transact with confidence in an evolving online landscape”.