Chargeflow Secures $35 Million Series A to Enhance AI Chargeback Solutions for Major Merchants
Chargeflow Secures $35 Million Series A for AI Chargeback Automation
In a significant development for eCommerce and digital payments, Chargeflow, an innovative AI-powered platform specializing in chargeback automation, has successfully secured $35 million in a Series A funding round. This funding round, which includes a $10 million debt facility, is led by Viola Growth and involves contributions from existing investor OpenView Venture Partners, bringing Chargeflow's total funding to a remarkable $49 million. The influx of capital will be directed towards enhancing the company’s AI-driven product innovation and expanding its comprehensive chargeback automation suite to meet rising demand among global enterprise merchants.
Chargeback systems, originally designed to protect consumers, have increasingly become a burden for merchants. According to Mastercard, the volume of chargebacks is projected to soar by 24% by 2028, reaching an alarming 324 million annually. A staggering proportion—almost 80%—of these chargebacks is attributed to
Topics Business Technology）
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