Credit Card Software
Description: Credit card dispute Software Company
Project: Growth support and finance raising
Finance raised: Debt and Equity Finance
Client Requirements
TriRidium is a start-up software company which specialises in the development and hosting of Internet based Credit Card Dispute software called TransTrack.
TransTrack, has been developed for use within acquiring banks and large retail environments, where it automates the processes associated with the raising and settlement of payment card disputes, for both Point Of Sale (POS) and Card Holder Not Present (CNP) transactions.
The business began from a standing start designing and developing its software and at the same time trying to acquire sales for the product. The initial capital injected by the directors of the company was rapidly eroded and the search for investment began.
Project Approach
Genesis assisted in a number of ways to ensure the success of the company and the right type of funding was attracted into the business, as follows:
- Analysis of the market opportunity for Payment Card Dispute Software
- Analysis of Credit Card fraud in the target markets
- Competitive analysis
- Business planning
- Finalisation of business plans for investor presentations
- Relationship and investment management with the Bank
- Five year strategies
Results and Client Benefits
The company was successful in securing a loan from a High-street Bank under the DTI’s loan guarantee scheme and equity finance for the full amount required. The company won ‘Best Young Business’ 2004 at mustard.uk.com awards. The company has now grown to an annual seven-figure turnover and has developed leading edge technologies and an e-commerce trading model, which is in great demand.