- Chargeflow raised $11 million to build chargeback tools that help merchants automate card disputes.
- The funding was led by OpenView and brings Chargeflow’s total funding to $14 million.
- Chargeflow will use the funds to accelerate product development, fuel company growth, improve on its customer experience, and ultimately put a halt to fraud and illegitimate chargebacks.
Chargeflow is on a mission to simplify and increase profitability for companies processing online payments. Today, the Israel-based company received a boost toward that goal in the form of $11 million in Seed funding.
The VC funding, which was led by OpenView, brings Chargeflow’s total funding to $14 million. The company will use the investment to accelerate product development, fuel company growth, improve on its customer experience, and ultimately put a halt to fraud and illegitimate chargebacks.
“The funding will also allow us to build new products, just as our newest announcements, Chargeflow Alerts, and our all-new Stripe App, which has already gained amazing momentum and feedback from our customers,” explained Chargeflow Co-Founder, Marketing & Product Avia Chen.
Launched in 2021, the Chargeflow Alerts tool notifies merchants as soon as a customer files a dispute on a transaction, and allows the merchant to proceed with the transaction, offer a refund, or gather evidence for representment. The free Stripe App offers businesses a fully-automated chargeback management service.
Chen, along with his cofounder Ariel Chen originally launched Chargeflow as a Shopify app in 2021. The two have since added more processors, including Klarna, Braintree, Recharge, Stripe, and others. When integrating with these players, Chargeflow establishes a two-way data connection that facilitates the flow of information between the systems. The app offers merchants an overview of all fraud and disputes and autonomously fight chargebacks, disputes, and fraud with just a few clicks.