Forter, the leader in e-commerce fraud prevention, today announced it has raised $300 million in Series F funding.
The announcement comes six months after the company completed its $125 million Series E round, almost tripling the valuation to $3 billion, and making Forter „the most valuable privately held company ever in the fraud prevention industry”.
Forter will use the additional funding to continue expanding its global ecosystem of trust, enabling retailers, e-commerce platforms, issuing banks and payment providers to fight fraud together, boosting confidence and improving shopper experience across the entire purchasing journey.
Over the last 12 months, Forter has doubled the size of its global network of merchants to exceed $250 billion in annual online transactions while protecting more than a billion shoppers globally. Also, revenues increased by more than 100%.
“We have set a new standard for trust in commerce. Forter’s platform brings together merchants, banks and payment providers to dramatically improve authorization rates, eliminate false declines and allow consumers to shop with greater convenience and enjoy a more personalized, secure experience,” said Michael Reitblat, CEO and co-founder, Forter.
“This transforms fraud prevention into a growth and revenue enablement engine for the entire consortium of participating merchants, ensuring our customers can attract, convert and retain the best shoppers. The funding will enable us to accelerate our growth trajectory by investing in talent, technology and continued global expansion.”
“Forter allows us to focus on serving our customers and take advantage of the encouraging travel recovery in the United States,” said Matthew Tynan, CFO, Priceline. “The company’s automated, real-time solution has significantly increased approval rates while substantially reducing chargebacks, allowing us to attract and retain the best customers across all retail channels, without the fear of fraud.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
