ThreatFabric Raises €11.5 Million in Seed Round

by Kay Aloha Villamor in May 12th, 2023

ThreatFabric, an Amsterdam, Netherlands-based provider of fraud detection solutions and intelligence for the financial services sector, has raised €11.5 million in seed funding to expand its technical capabilities and support its growth. 

The round was co-led by ABN AMRO Ventures, and Motive Ventures, with participation from 10xFounders and 14Peaks capital. 

The funding will be used to increase ThreatFabric’s international expansion and extend its fraud detection layers with behavioral-based detection. 

A large part of the investment will be used to extend two separate protection layers of ThreatFabric’s Fraud Risk Suite, including behavior-based location intelligence and behavioral biometrics, by using advanced AI models that forecast potential fraudsters' online footprints inside payment journeys.

The company's software aims to help banks and financial institutions protect their end-users from fraud and malware using different protection layers, such as on-device malware detection and behavioral analytics.

Han Sahin, CEO at ThreatFabric, said in a statement: “The ever-changing online fraud threat landscape can proactively be protected by including AI driven threat modelling in behavioural based defence layers. Fraudster also have a strong need which is strongly reflected in their digital footprint. This Seed Round with investment capital from ABN AMRO Ventures, Motive Ventures, and participation from 10xFounders and 14Peaks capital will be used for further expansion and to extend our Fraud Risk Suite platform focused on new proactive fraud controls. For example, with behaviour-based location intelligence and behavioural biometrics that use advanced AI models that forecast potential fraudsters online footprint inside payment journeys”.  

Company: ThreatFabric B.V.

Raised: €11.5M

Round: Seed Round

Funding Month: May 2023

Lead Investors: ABN AMRO Ventures, Motive Ventures

Additional Investors: 10xFounders and 14Peaks capital

Company Website: https://www.threatfabric.com/

Software Category: Fraud Protection Software

About the Company: Founded by Han Sahin and Yorick Koster, ThreatFabric provides a software-as-a-service (SaaS) solution to the financial services sector, enabling banks and financial institutions to gain comprehensive fraud visibility across both web and mobile channels. The company has grown rapidly since its inception in 2015 and now has a global presence with over 40 employees. ThreatFabric is committed to protecting all online payments against fraud to maintain trust in online payments and provide a frictionless, carefree experience for users. 

    

Source: https://www.threatfabric.com/blogs/threatfabric-investment-announcement.html



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