Payment Fraud Prevention Company Forter Raises $50 Million
Forter supplies businesses with a service that marks incoming payments as credible or likely fraudulent
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Founded in 2013 by former employees of PayPal’s anti-fraud development center in Israel, Forter supplies businesses with a service that marks incoming payments as credible or likely fraudulent. The company already has a database covering more than 180 million U.S. shoppers, the company said in a statement.
Forter founders (left tyo right) Alon Shemesh, Michael Reitblat, and Liron Damri. Photo: Forter
The funding round is Forter’s largest to date, bringing the company’s total financing to $100 million. The company recently announced its expansion into Europe with the opening of its first U.K. office in London.
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The company plans to “double” its investment in research and development, expand its “global coverage,” and “facilitate further collaboration in the e-commerce and payments ecosystem,” Forter Co-founder and CEO Michael Reitblat said.
