Processout automatically routes transactions to the best payment provider.

Meet ProcessOut, a French startup co-founded by Grégoire Delpit, Master 2009, COO, president of the 40th Course Croisère EDHEC, professor in the MSc Data & Analytics at EDHEC.

Processout automatically routes transactions to the best payment provider. This way, big online services can start using multiple payment providers, pay fewer fees and reduce the number of declined transactions.

The startup has just raised $1 million from various business angels, such as BlaBlaCar CTO Francis Nappez, former PayPal Director of Global Business Development Benjamin Blasco, Logmatic CEO Amirhossein Malekzadeh and Amadeo Brenninkmeijer. ProcessOut is also backed by Techstars and 50 Partners.

“Look at how companies, such as Airbnb and Dropbox, handle payments. Those companies have teams of 10, 15 or 20 people who work full time on optimizing the technical and economical performance of payments.” co-founder and CEO Cyril Chemla told me. “ProcessOut acts like those payment teams for Datadog, BlaBlaCar or Vente-Privée.”

Read more on https://techcrunch.com