Monday, September 10, 2012

Truaxis Acquired By MasterCard

Redwood City-based Truaxis, formerly known as Billshrink, has been acquired by MasterCard. Financial details of the acquisition were not disclosed. Truaxis was founded by Schwark Satyavolu, and was venture backed by Bessember Venture Partners and Trinity Ventures. Truaxis was developing technology for providing reward programs for financial institutions, and also operated BillShrink.com, which helped consumers maximize their savings on household services and credit cards.