The proceeds will be primarily used by Riskified to scale its business domestically and internationally and to expand its product footprint. The company’s AI-powered fraud-prevention solutions enable merchants to distinguish legitimate customers from fraudulent ones and boost conversion rates.
Riskified’s pioneering chargeback-guarantee model aligns the company’s incentives with merchants, according to the official press release. As a result of Riskified’s accuracy, merchants increase sales, reduce the cost of fraud, and deliver a better customer experience.
Riskified analyses transactions from 235 countries and territories on all 7 continents and has 420+ employees in New York and Tel Aviv. Furthermore, the company aims to have a new office in Shanghai before the end of 2019.
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