The investment will allow Ravelin to continue product development. Ravelin is focused on helping businesses manage the fraud and payments risk that multiple payments channels are opening up.
According to LexisNexis, companies trading online are typically accepting up to five different payment channels and each additional channel is another potential exposure to fraud. Consumer demand for rapid delivery of goods and services means that the review period for transactions is constantly shrinking, and more businesses are shipping digital goods and services with none at all. As a consequence, more pressure is being placed on fraud teams.
Ravelin is a fraud prevention platform that combines machine learning and data science with a merchant’s own risk profiling to provide fraud detection. Ravelin is based in the UK and backed by Passion Capital.
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