Ecommerce fraud protection co Justt raises $30m

Justt founders Ofir Tahor and Roenen Ben-Ami credit: Omer Stein
Justt founders Ofir Tahor and Roenen Ben-Ami credit: Omer Stein

The Israeli company protects businesses from 'friendly fraud,' in which customers cancel valid credit card transactions, despite receiving the product or service that they ordered.

Israeli fintech company Justt has announced the completion of a $30 million Series C financing round, which will aloow it to continue expanding its activities in protecting business against unjustified cancelations of transactions. The current financing round was led by Zeev Ventures with participation from existing investors Oak HC/FT and F2 Venture Capital and brings the total amount raised by Justt to $100 million.

In its announcement, Justt said its aim is to confront one of the most significant challenges in online commerce - the practice of 'friendly fraud,' in which customers cancel valid credit card transactions, despite receiving the product or service that they ordered. This practice, which has grown in volume in recent years along with the major growth in online purchases, inflicts economic damage on businesses estimated at billions of dollars each year.

Recovering lost revenue

Justt was founded in 2018 by CEO Ofir Tahor and chief risk officer Roenen Ben-Ami. The company's platform analyzes over 500 sources of information in order to determine whether the cancelation of a transaction was justified. Unlike existing solutions that rely on manual handling or fixed templates, Justt's platform incorporates AI to adapt handling of each case. The platform also has the ability to continuously improve through machine learning. According to the company, the solution integrates efficiently with existing systems and is updated in accordance with regulatory requirements. Today, the company has over 200 customers in the fields of e-commerce, tourism and shipping services. According to its announcement, Justt expects to reach profitability in 2027.

Tahor said, "Our distinctive advantage in the industry is the ability to grow together with the customers, while continually upgrading the results through advanced machine learning. Our platform helps businesses to manage payment disputes more efficiently and recover lost revenue, while simplifying procedures with financial organizations. The investment will allow us to expand activities in global markets and speed up technological developments."

Justt currently has 100 employees, including 75 in Israel.

Published by Globes, Israel business news - en.globes.co.il - on December 19, 2024

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024

Justt founders Ofir Tahor and Roenen Ben-Ami credit: Omer Stein
Justt founders Ofir Tahor and Roenen Ben-Ami credit: Omer Stein
British Airways aircraft  credit: Shutterstock/Jarek Kilian Tel Aviv - London fares to fall as British Airways resumes flights

From June there will be 20-32 weekly flights operated on the popular Tel Aviv - London route by foreign airlines - British Airways, Wizz Air and easyJet.

Partner Partner forms int'l business diivision

The division will be headed by former Bezeq International VP Global Business Nissan Arieh.

Caesarstone kitchen credit: Caesarstone Caesarstone bucks Nasdaq as tariffs boost potential

The Israeli quartz countertop manufacturer company has fallen on hard times due to Chinese rivalry but tariffs could boost its revenue.

ZIM ship credit: ZIM Trump's tariffs torpedo ZIM's share price

ZIM's share price fell 16.4% on Wall Street on Thursday and a further 7.2% on Friday, closing with a market cap of $1.5 billion, wiping out all its gains in 2025.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Holon, Rehovot, Kiryat Tivon, Shlomi and Beersheva.

THAAD anti missile system credit: The US Army Ralph Scott Wikimedia US deploys more THAAD, Patriot batteries in Israel - report

Amid rising regional tensions the US is bolstering Israel's air defense, Saudi state-owned TV channel Al Arabiya reports.

Tel Aviv Stock Exchange credit: Shutterstock TASE tumbles in Wall Street's wake

Dual-listed stocks have again been hard hit, but the banks are also down sharply.

Donald Trump and Benjamin Netanyahu credit: Avi Ohayon Netanyahu due in Washington to discuss tariffs

According to news website Axios, Prime Minister Benjamin Netanyahu will be the first leader to meet President Trump after the latter's announcement of sweeping import tariffs.

Yoni Assia CEO eToro Credit: PR eToro defers IPO amid market turmoil

The online trading platform had planned to begin meetings with investors this week.

Minister of Finance Bezalel Smotrich credit: Shlomi Yosef Smotrich meets wrong man in Washington

Minister of Finance Bezalel Smotrich tried to persuade Secretary of the Treasury Scott Bessent to soften the tariff blow on Israel - only Bessent isn't responsible for the matter.

Unframe founders credit: Yossi Yarom Israeli AI enterprise platform co Unframe raises $50m

Unframe’s turnkey AI solutions enable companies to solve any enterprise AI use case at scale with fully functional, customized AI solutions for businesses in a matter of hours, rather than months.

Combatica credit: Combatica Combatica launches next-gen VR AI training platform

The Israeli company's virtual reality platform includes 50 AI generated scenarios, seven maps and even situations for operating night vision.

Shekel credit: Shutterstock Vladirina 32 Shekel volatility after US tariffs announcement

The shekel is weakening sharply against the euro, which is gaining following the unveiling of Donald Trump's tariffs plan.

Minister of Finance Bezalel Smotrich credit: Noam Moskovitz Knesset Spokesperson Treasury assesses potential damage to Israel's US exports

Israel will be charged a higher tariff on its exports to the US - its biggest export customer - than Turkey and the UAE.

Iranian flag credit: Shutterstock Why inflation haunts Iran

With a month-on-month increase of 3.3% and an annual rate of 37.1%, inflation reflects the struggles of millions of Iranians.

APM merges with lawyers from Doron, Tikotzky Kantor, Gutman credit: Eyal Merilos APM merges with 12 lawyers from Doron, Tikotzky Kantor, Gutman

With the addition of these 12 lawyers, Amit Pollak Matalon & Co. will now have 135 lawyers.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018