7 years ago

Ravelin Raises £8 Million to Fight E-commerce Fraud with Machine Learning

  • Ravelin, a London-based company using machine learning to help e-commerce companies fight and predict the risk of fraud, has raised £8 million in Series B funding

  • The round is led by BlackFin Capital Partners, with participation from existing investors Amadeus Capital Partners, Passion Capital, and Playfair Capital

  • Ravelin plans to use the funding for expansion plans, including opening an office in the East Coast of the U.S., and to continue to invest in other capabilities complementary to its core proposition of charge back protection.

      • ProblemTechnology

      "E-commerce fraud is a huge problem for online businesses, costing them billions of dollars every year. Current methods of fighting fraud are often outdated and inefficient, leading to lost sales and customer frustration."

      Solution

      "Ravelin uses machine learning to help e-commerce businesses fight fraud. Their technology is able to identify patterns of risk and take action to prevent fraud before it happens. This helps businesses reduce their losses and improve their customer experience."

      Covered on