Israel-based nSure.ai, which builds AI-powered fraud prevention technology, has reportedly raised $18m in its funding round.
The Series A investment was led by MoreTech Ventures, with commitments also coming from DisruptiveAI, Gryffin Ventures and Moneta Seeds, according to a report from Silicon Angle.
nSure.ai is an advanced fraud prevention platform that protects sellers of digital goods, with its website claiming to be so accurate it only declines 2% of sales, compared to the 20% industry average.
nSure.ai has experienced a strong year for growth, including a 500% increase in its revenue.
nSure.ai co-founder and CEO Alex Zeltcer told Silicon Angle, “FinTech companies powering wallets and crypto-based services offer an immediate transfer of funds, creating a huge incentive for sophisticated fraudsters and scalable fraud patterns.
“Standard, e-commerce-based fraud prevention platforms are ill-equipped to deal with this new market. Merchant-specific AI models, along with real-time anomaly detection, such as the ones we offer, help these new generation companies on their growth without taking excessive risk.”
With the close of the round, the company has raised a total of $25.4m in funding, to date.
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