Avangate

About Avangate

Avangate emerged in 2006 as a digital commerce solution provider, founded by the serial entrepreneur Radu Georgescu and co-founder Cristian Badea. The founders' journey originated from their experience at GECAD Group, which developed the RAV Antivirus acquired by Microsoft in 2003. They identified the complexities of selling software globally as a significant hurdle for companies and established Avangate to address this specific market need. Cristian Badea, a developer by profession, wrote the first line of code for Avangate and, as CIO, played a crucial role in building the company's technology backbone.

The company operates as a comprehensive eCommerce platform tailored for software, Software-as-a-Service (SaaS), and digital goods companies. Its business model focuses on enabling these clients to sell their products through any channel and business model, optimizing both direct online sales and indirect channel revenue. The platform generates revenue by providing a suite of services, including global payments, subscription billing, and channel management. Avangate serves a global client base, from small and medium-sized enterprises to large corporations like HP, Bitdefender, and Kaspersky Lab, helping them to navigate the complexities of international sales.

Avangate's core product is a cloud-based digital commerce platform, SkyCommerce™, which includes a secure eCommerce engine, a partner order and revenue management system, and an affiliate network with over 50,000 partners. Key features include global payment processing in over 180 countries and multiple currencies, subscription billing management, tools for managing reseller and affiliate networks, and marketing services. A significant milestone in the company's history was its acquisition by private equity firm Francisco Partners in October 2013. This was followed by the acquisition of 2Checkout in April 2017 to broaden its payment flexibility and market reach, with the combined entity rebranding as 2Checkout. Subsequently, in August 2020, the payments giant Verifone acquired 2Checkout, integrating it into its suite of omnichannel commerce solutions.