Series B · Fintech · Berlin, Germany · Founded 2014 · 51–88 employees
Fraugster is a German-Israeli anti-fraud company that uses artificial intelligence to prevent fraud for online retailers and payment service providers. Founded in 2014, the company has developed one of the most accurate AI fraud prevention solutions on the market, analyzing thousands of data points in real-time to detect fraudulent transactions within 15 milliseconds. The startup raised $14 million in Series B funding in 2018 led by CommerzVentures and Munich Re Ventures, bringing their total funding to over $20 million. Fraugster serves major clients including payment providers Ingenico ePayments and Six Payments, monitoring millions of transactions daily and claiming to reduce fraud losses by up to 70% while increasing conversion rates by up to 35%.
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