Details

Last Funding Type

Series B

Last Funding Money Raised

$14M

Industries

Artificial Intelligence,Big Data,Financial Services,FinTech,Fraud Detection,Machine Learning,Mobile Payments,Payments

Founded date

Sep 24, 2014

Number Of Employee

51 - 100

Operating Status

Active

Fraugster is a German-Israeli anti-fraud company that uses artificial intelligence to eliminate fraud and increase customers’ profits.

Fraugster's journey began in 2014 with the vision to design and build an anti-fraud technology that can help create a fraud free world - one where no one has to care about managing risk again. After years of working in the payments industry, the founders experienced first-hand the challenges of fraud for e-commerce merchants. The founders discovered that all existing anti-fraud solutions were built on outdated technologies and therefore not good enough to deal with sophisticated cyber criminals. Existing rule-based systems as well as classical machine learning solutions are expensive and can't adapt to new fraud patterns in real-time, hence inaccurate.