Quavo Fraud and Disputes, a provider of fully automated cloud-based fraud and dispute management Software-as-a-Service (SaaS) for providers based in East Lansing, announced it has completed a $6 million Series A financing round led by Fintop Capital.
“We are incredibly excited about our Series A raise. Fintop has a fantastic reputation, depth of knowledge in the financial services space, and its team is comprised of genuine and authentic leadership,” says Joe McLean, co-founder and managing partner at Quavo.
It’s chargeback management offering for issuing FinTechs and financial institutions is unique in requiring zero upfront implementation costs while supporting clients with automatic regulatory, card network association, and product enhancement updates.
Quavo will use the funds to execute plans towards expansion, scalability, and stability. The partnership coincides with its formal creation of a board of directors, including Fintop’s John Philpott and Jared Winegrad.
“Fintop hopes this investment will help Quavo expand their go-to-market strategies, grow their brand, and add further expertise to the Quavo ecosystem,” says Philpott.
Dan Penne, co-founder and managing partner of Quavo, says, “Quavo is the leading provider of fraud and dispute management technology and services. We’re anticipating this funding to raise Quavo in market recognition and brand awareness.
“Fintop is distinguished in their specialization in FinTech and familiarity scaling companies to the next level. Access to the Fintop network and with this infusion of capital will drive advances in Quavo’s products and services for existing and future clients.”