Tender Armor Secures Series A Investment
Tender Armor, LLC, a global fraud prevention payments technology provider, today announced the closing of a multi-million-dollar Series A investment led by private investors Aubrey Strul and Barry Beck, with additional funding from Strul Logistics and Technology LLC.
Tender Armor’s CVV+ solution addresses the growing threat of card-not-present (CNP) fraud and its associated consumer worries. It empowers consumers by protecting against ecommerce fraud, lost and stolen cards, retailer breaches and unauthorized use of their credit, debit, and prepaid cards. For financial institutions, CVV+ helps reduce CNP charge-off losses, curtails cardholder attrition and decreased card usage, and minimizes payment card re-issues, while avoiding costly reputational damage.
According to the company, the new funding will enable Tender Armor to drive new business and product innovation, expand its workforce, and meet increasing demand by financial institutions for its patent-pending solution.