• FOUNDING YEAR: 2014
    LOCATION:
    Germany
    REGION:
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Fraud protection API for online payments. Fraud Free Product: It eliminates chargeback and provides a conclusive decision for every transaction. It is a completely automated solution which reduces the false positive ratio dramatically and brings acceptance rates to new heights.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Payment service providers, online merchants and retailers. Some of the clients Ingenico Payments, Visa, Wirecard, Credorax, ePayments, Six Payments
PRIMARY PROBLEM SOLVED:
Anti-fraud solution for online/mobile transactions
COMMENT
Fraugster has an AI-powered fraud detection technology that learns from each transaction in real-time and claims to be able to anticipate fraudulent attacks even before they happen. Fraugster collects transaction data points such as name, email address, and billing and shipping address. This is then enriched with around 2,000 extra data points, such as an IP latency check to measure the real distance from the user, IP connection type, distance between key strokes, and email name match.

PEOPLE

FOUNDERS:
Max Laemmle, Chen Zamir
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
Commerz Ventures, Earlybird Venture Capital, Speedinvest, Seedcamp, Rancilio Cube, Munich Re
KEY EMPLOYEES:
Max Laemmle (CEO), Chen Zamir (CTO)
COMMENT:
Founding members previously, they worked for companies like PayPal or SumUp.

TRACTION

VALUATION / MARKET CAP:
$33.33 MM in 2017
COMMENT:
Fraugster is handling almost $15bn in transaction volume for several thousand international merchants and payment service providers, such as Visa (Jan 2017).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$19 Million
DATE OF LAST FUNDING:
Nov 2018
TOTAL FUNDING COMMENT:
The company intends to use the funds to expand globally. (Nov. 2018)
FUNDING SERIES:
SERIES A
$5 Millions Closed: Jan 2017
SERIES B
$14 Million Closed: Nov 2018
LISTED:
NO

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