ThreatFabric, a leading provider of fraud detection solutions and intelligence for the financial services sector, has successfully raised €11.5m in a seed round.
The funding round was co-led by ABN AMRO Ventures and Motive Ventures, with participation from 10xFounders and 14Peaks capital.
The Amsterdam-based start-up offers a Fraud Risk Suite, which uses advanced AI models to continuously model threat paths inside online sign-up and payment journeys. With online fraud increasing at an alarming rate, ThreatFabric’s solutions help banks and financial institutions protect their end-users from fraud and malware through a multi-layered approach, including on-device malware detection and behavioural analytics.
The new funding will be used to extend two separate protection layers of ThreatFabric’s Fraud Risk Suite: behaviour-based location intelligence and behavioural biometrics. By using advanced AI models, the company can forecast potential fraudsters’ online footprints inside payment journeys and proactively define attack paths through continuous threat modelling.
ThreatFabric was founded by Han Sahin and Yorick Koster, who have over two decades of experience in fighting cyber fraud. The company has grown rapidly since its inception in 2015 and now has a global presence with over 40 employees. It was recently named as a Sample Vendor in a Gartner Research Report, highlighting the importance of complementary multi-domain technologies and intelligence in improving fraud detection.
ThreatFabric CEO Han Sahin said, “The ever-changing online fraud threat landscape can proactively be protected by including AI-driven threat modelling in behavioural based defence layers. This Seed Round with investment capital from ABN AMRO Ventures, Motive Ventures, and participation from 10xFounders and 14Peaks capital will be used for further expansion and to extend our Fraud Risk Suite platform focused on new proactive fraud controls.”
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