Riskified is the latest tech company to reach unicorn status
It was announced this afternoon that Riskified has secured US$165mn in Series E Funding round led by General Atlantic, making it the latest fintech to reach unicorn status as it reached a valuation of US$1bn.
“Riskified began as a new and unproven approach to fraud prevention and payments. Achieving success required merchants to believe in our vision and partner with us. Today’s announcement is a testament to those partnerships and the leadership position we attained in this important market,” said Eido Gal, CEO and Co-founder of Riskified. “These funds will allow us to continue to develop innovative solutions that help move commerce forward.”
The technology company has experienced hyper growth over the last five years by as much as 250%CAGR.
“Our work in the payments space has shown us that Riskified’s machine learning-based approach provides material improvements over legacy fraud and risk management solutions,” said Aaron Goldman, Managing Director and Co-Head of General Atlantic’s Financial Services sector. “We believe that the Riskified team is strategically positioned to continue capturing this substantial market opportunity.”
Goldman Sachs & Co. LLC. were the sole placement agent during this round. Other investors who also participated were Qumra Capital, Pitango Venture Capital and Entrée Capital.
- Fintech unicorn Monzo declares major milestones
- Fintech profile: Nubank, the Latin-American unicorn
- FinTech Profile: Gusto - the all in one people platform
- Read the latest issue of FinTech Magazine, here
Who are Riskified?
[Image: Eido Gal and Assaf Feldman]
Riskified was founded by Eido Gal and Assaf Feldman in 2013. The technology company specialises in leveraging data and innovation to ensure the highest cybersecurity to ecommerce. Riskified has 420 employees in its New York and Tel Aviv office, with plans to open a new office in Shanghai at the end of 2019.
The fraud prevention company has a number of well-known customers, including: Lastminute.com, Gymshark, Megabus and MatchesFashion
Riskified’s investors include: Pitango Growth, Capital One Growth Ventures, Qumra Capital, Genesis Partners, Groupe Arnault, C4 Ventures, The Phoenix Insurance Company, NTT DOCOMO Ventures and Entrée Capital.
“Riskified is the rare blend of realised performance and considerable potential. The company’s innovative model has enabled it to deliver significant ROI to its customers and partners, with a clear runway ahead for strategic expansion of its geographic footprint, product offering, and consumer base,” said Tanzeen Syed, Managing Director in General Atlantic’s Technology sector. “We are thrilled to partner with Eido and the Riskified team to reinvent the payments ecosystem and add real value for customers.”
Did you know?
According to Riskifeild, its customers see increased order approval rates averaging up to 20%
For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.