Israeli anti-fraud RegTech Riskified is reportedly looking to raise as much as $200m, with an IPO being considered as one of the options.
Riskified has planned to use the proceeds of the raise to expand its Tel Aviv-based company, people familiar with the company’s plans told Bloomberg.
The RegTech is also said to be considering an initial public offering to launch as early as next year, one of the people added.
Riskified uses a machine learning algorithm to help prevent fraud in E-commerce companies by analysing card-not-present transactions. Riskified is available for merchants operating in electronics, fashion, giftcards, luxury goods, shoes, ticketing and travel sectors.
Since launching in 2012, the business raised $64m in funding from a range of investors in located in Israel and abroad.
In 2017 the firm raised $33m in a Series C round led by Pitango Growth with participation from Capital One Growth Ventures, Groupe Arnault, the controlling shareholder of LVMH, and C4 Ventures.
Riskified also raised $25m in a round of funding led by Israeli Qumra Capital in 2016, alongside The Phoenix Insurance Company and NTT DOCOMO Ventures, as well as existing backers Genesis Partners and Entrée Capital.
This year, Riskified was hand-selected for the RegTech 100, by a panel of industry experts. The list compiles all the RegTech companies every financial institution should know about in 2019.
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