Capstone Partners, a leading investment banking firm, announced that it has successfully advised Escrow.com on its acquisition by Freelancer.com.
The acquisition of Escrow.com by Freelancer, an Australian public company, underscores the continued effort by online marketplaces to ensure complete and secure transactions between parties across the globe trading in high-value goods and services. This transaction represents another successful client mandate among Capstone’s advisory services in the financial technology space.
Escrow.com pioneered the process of online escrow services. Headquartered in Rancho Santa Margarita, California, the company has established itself as a leading provider of secure business and consumer transactions on the Internet. Escrow.com’s partners include eBay, GoDaddy, AutoTrader.com, Flippa.com and is also a strategic partner of the US Commercial Service (USCS) supporting President Obama’s National Export Initiative designed to significantly grow US export volume. As a facilitator of over $2.2 billion in transactions to date, Escrow.com reduces the risk of fraud by acting as a trusted third party that collects, holds and disperses funds according to buyer and seller instructions.
Freelancer.com, the world’s largest freelancing and crowdsourcing marketplace has over 17 million employers and freelancers from 247 countries, regions and territories. Through its marketplace, employers can hire freelances to do work across a wide variety of areas. Freelancer.com Chief Executive Matt Barrie said, “We are pleased to acquire Escrow.com, the world’s largest online escrow company. This highly complementary acquisition will enhance the ability of our 15 million users to transact securely, and is a strong cornerstone for entering the payments space”.