ClearSale IPO raises USD 254 million with focus on fraud prevention innovation

Wednesday 15 September 2021 12:08 CET | News

ClearSale, a Brazil-based fraud prevention company, has secured USD 254 million in funding to focus on growth, acquisitions and development.

ClearSale’s statistical technology and its team of fraud analysts combine to offer card-not-present (CNP) fraud prevention that reduces chargebacks and false positives while helping merchants to deliver a seamless experience. 

As the pandemic shifted consumers in many regions from in-store to online shopping and fraud attacks on ecommerce merchants increased, ClearSale’s 2020 net revenue grew by 65.7%, compared to 2019 growth of 35.5%, according to the press release. Banco Itau BBA served as lead coordinator on ClearSale’s IPO, with Bank of America, BTG Pactual and Santander acting as offering coordinators.

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Keywords: Card-not-present fraud, fraud prevention, IPO
Categories: Fraud & Financial Crime
Countries: Brazil
This article is part of category

Fraud & Financial Crime