Riskified, a payments and fraud-prevention solution provider, has netted $165m in its Series E, raising its valuation to more than $1bn.
General Atlantic served as the lead investor, with addition capital coming from Qumra Capital, Pitango Venture Capital and Entrée Capital.
Priority for the new capital is for rapidly scaling the business domestically and internationally, as well as expand its product suite.
Earlier in the year, it was reported Riskified had been looking to raise up to $200m in funding or conducting an IPO.
The company leverages AI technology to build fraud-prevention solutions for merchants to optimize the online and omni-channel paths-to-purchase. Its technology can instantly distinguish legitimate customers from false players by analysing card-not-present transactions.
Its technology can also increase bank authorization rates, protect customer accounts and enable merchants to accept alternative payment methods.
General Atlantic managing director Tanzeen Syed said, “Riskified is the rare blend of realized performance and considerable potential. The company’s innovative model has enabled it to deliver significant ROI to its customers and partners, with a clear runway ahead for strategic expansion of its geographic footprint, product offering, and consumer base.
“We are thrilled to partner with Eido and the Riskified team to reinvent the payments ecosystem and add real value for customers.”
Riskified was named in last year’s RegTech 100 list, which identifies the companies all financial institutions must know about.
Earlier in the year, General Atlantic led the $50m funding round of identity management company JumpCloud.
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Copyright © 2018 RegTech Analyst
