LIMASSOL, Cyprus, Oct. 10, 2024 — Schwarzwald Capital, a venture capital firm committed to supporting fintech and creator economy startups, has facilitated a strategic partnership between Cartex, a fintech services marketplace and one of its key investment ventures, and Vesta, a leading real-time payment fraud detection platform. This collaboration is set to address growing concerns around fraud in high-risk payment sectors, including the creator economy, by providing advanced fraud management solutions.
As the digital content creation industry grows, it faces significant challenges due to its unregulated nature. In 2023, the creator economy was valued at an estimated $200 billion, which has attracted numerous scams, including payment fraud through stolen cards, and money laundering. These issues have created barriers to growth, with restrictions and higher transaction costs plaguing the industry.
Vesta, with nearly 30 years of experience protecting industries like telecommunications and financial services, brings knowledge to the table. Their expertise in reducing fraud risks and maximizing approval rates for merchants, gateways, and acquirers is well-established. In partnership with Cartex, their combined goal is to introduce user-friendly, robust fraud management solutions, ultimately creating a safer ecosystem for all stakeholders.
Cartex, a key project for Schwarzwald Capital, serves as a marketplace uniting different payment solution services, including card issuance, payment gateways, and payout mechanisms for the creator economy. The Schwarzwald Capital plans to continue its efforts to enhance the creator economy by investing in more innovative startups.
“Like any fast-growing field, the creator economy is highly vulnerable to fraud. Vesta is recognized globally for its expertise in delivering tailored fraud prevention solutions across high-risk payment sectors. By collaborating with them, we’re taking steps to create a safer and more trustworthy environment for the startups that Schwarzwald Capital supports,” said Kyrillos Akriditis, Co-Founder and Managing Director of Schwarzwald Capital.
“We are excited to collaborate with Cartex’s leadership team to tackle the payment fraud challenges within the creator economies. By combining our expertise in real-time fraud detection with Cartex’s innovative marketplace solutions, we can help drive higher revenue while ensuring that all participants are protected,” said Paddy Beagan, General Manager of Vesta in Europe.
This partnership sets the stage for a more secure and transparent future in the creator economy and other challenging industries, driving growth while addressing the challenges of a rapidly evolving digital landscape.
SOURCE Schwarzwald Capital
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