Riskified, a US-based e-commerce fraud prevention software developer backed by financial services provider Capital One, yesterday received $165m in a series E round backed by financial services group Fidelity.
General Atlantic led the round, which also featured Qumra Capital, Pitango Venture Capital and Entrée Capital. The investment valued Riskified at more than $1bn.
Riskified’s platform exploits artificial intelligence technology to instantly confirm legitimate e-commerce customers and prevent fraudulent transactions. It also enables merchants to safely offer alternate payment methods and protects consumers accounts from misuse.
The funding will drive rapid domestic and international expansion efforts and will allow Riskified to extend its product footprint. The company is planning to open an office in Shanghai by the end of 2019, in addition to existing locations in New York and Tel Aviv.
Riskified has not disclosed details about its series D round. The company last revealed funding in 2017 when it completed a $33m series C round that included Capital One Growth Ventures, the corporate venture capital unit of Capital One, and insurer Phoenix Insurance Company.
Pitango Venture Capital led the series C round, which also featured Groupe Arnault, Qumra Capital, Genesis Partners, C4 Ventures and private investor Pascal Cagni.
The series C round brought Riskified’s total funding up until that point to $64m. Phoenix Insurance had already backed a $25m series B round in 2016 together with NTT Docomo Ventures, the strategic investment division of mobile network operator NTT Docomo.
Qumra led the series B, and Genesis Partners and Entrée Capital also backed the round.
