Anti-fraud co Riskified looking to raise $200m - report

Eido Gal and Assaf Feldman Photo: Shlomi Yosef

With e-commerce fraud rising rapidly, the Israeli startup is looking to raise capital, possibly through an IPO, in order to expand, "Bloomberg" reports.

Israeli anti-fraud services for online transactions company Riskified, is seeking to raise as much as $200 million, according to people familiar with the company’s plans, "Bloomberg" reports.

The company wants the new funds to expand operations people, who asked for anonymity as the matter is private told "Bloomberg." Riskified is also said to be considering an IPO, possibly by next year, one of the people said.

“Riskified does not comment on its financial plans,” a company representative told "Bloomberg."

E-commerce fraud is expected to cost retailers about $130 billion globally over the next five years, according to Juniper Research.

Riskified uses machine learning to detect suspicious orders and clients include Samsung and Swarovski International Holding AG.

With offices in Tel Aviv and New York, Riskified was founded in 2012 by CEO Eido Gal and CTO Assaf Feldman. Riskified has raised $64 million to date from investors including Pitango Venture Capital, Qumra Capital, Genesis Partners, and the investment company of LVMH chairman and CEO Bernard Arnault.

Published by Globes, Israel business news - en.globes.co.il - on April 8, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Eido Gal and Assaf Feldman Photo: Shlomi Yosef
Eido Gal and Assaf Feldman Photo: Shlomi Yosef
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