Reach, a combined payments, tax and fraud platform designed to improve handling of cross-border commerce transactions, has received $30 million in its latest funding round. The solution provider will use the funding to scale up its development teams with a focus on merchant success and onboarding, as well as to expand into new shopper geographies.
Cross-border ecommerce transactions are projected to reach $1.2 trillion in 2022, despite the fact that consumers often abandon carts upon discovering they can’t transact in their local currency or are redirected to a third party for checkout. The Reach solution powers transactions in 120 local currencies and local processing in more than 40 markets.
