Chargeback

Deal Snapshot

Company: Xomi, Inc. (Chargeback)

Website: https://sift.com/

Sector / Category: Payments / dispute management / chargeback automation

Headquarters: Salt Lake City, Utah

Founded: 2011

Investor: Frazier VC

Round: Series A

Deal Type: Primary investment

Company Overview

Chargeback built a real-time dispute management platform for merchants to prevent and manage chargebacks, streamline representment workflows, and reduce revenue loss from disputes. The company positioned its product around automation and rules-based workflows to help internal merchant teams respond faster and improve win rates across card networks.

Public Funding / Capital Events

Jun 9, 2020 — $6.6M raised (Series A1) Chargeback announced a $6.6 million Series A1 led by FINTOP Capital and Next Frontier Capital, with participation from existing investors including Next Coast Ventures and Kickstart Fund.

May 25, 2021 — Acquisition announced (Sift) Sift announced it had entered into a definitive agreement to acquire Chargeback, positioning the combination as covering fraud risk before, during, and after transactions.

Investment Summary

Frazier VC invested in Xomi, Inc. (Chargeback) through a primary Series A investment in June 2019.

Why We Invested

Chargeback addressed a mission-critical problem for digital merchants where dispute rates, response speed, and workflow quality directly affect revenue retention. The platform approach was differentiated by focusing on real-time dispute management and automation that could be embedded into merchant operations rather than handled as a manual back-office process. As dispute workflows become integrated with data sources, policies, and operating routines, switching costs tend to increase and the software becomes more durable within the stack. The company’s subsequent financing activity and acquisition by Sift reflected strategic value in the broader payments risk ecosystem.

Other Investors

FINTOP Capital

Next Frontier Capital

Next Coast Ventures

Kickstart Fund

Sift