Ravelin raises GBP 8 mln to secure ecommerce from fraud

Tuesday 11 September 2018 10:22 CET | News

Ravelin, a UK-based fraud and risk prediction company, has received GBP 8 million to expand its overseas business and extend its market reach.

The funding round was led by BlackFin Capital Partners with the participation of existing investors including Amadeus Capital Partners, Passion Capital, and Playfair Capital. The funding underpins Ravelin’s expansion plans including a new office in the US. The company has also developed a product for Payment Service Providers.

Ravelin works directly with online merchants and their payment service providers to secure their transactions. In 2017, eShopWorld, Just Eat, Kinguin, and Quiqup have joined the company’s enterprise client portfolio and Ravelin is now helping secure their transactions across 96 countries.

The fraud prevention company uses a combination of machine learning, graph networks and human insights to detect fraud. The company was founded in 2015 and is headquartered in London.

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Keywords: Ravelin, funding, machine learning, merchants, ecommerce, PSP, fraud detection, chargebacks, account takeover
Countries: World