Ravelin raises £8m for fraud protection investment

The funding was led by BlackFin Capital Partners, with existing backers Amadeus Capital Partners, Passion Capital, Playfair Capital and private investors retaining their stakes.

In addition to enhanced fraud protection for e-commerce, the fundraising will also enable London-based Ravelin to establish a new office in the United States.

>Read more on Technologies that Empower Ecommerce Stores

Ravelin’s clients include eShopWorld, Just Eat, Kinguin, and Quiqup.

“The growing sophistication and audacity of fraud attacks on businesses is a significant threat to online commerce,” said Martin Sweeney, CEO and Founder of Ravelin.

“This funding will allow us to accelerate with new and existing clients a range of options to nullify this threat and help them grow their thriving online businesses securely.

>Read more on How to survive the new fraud tactics of cybercriminals

“There is no greater endorsement of our approach than the companies we’ve been able to add to our portfolio. We’re proud that many of the world’s leading online businesses have chosen to work with us.”

Laurent Bouyoux, Founding Partner of funding leaders BlackFin, said: “We were impressed not only with what the team at Ravelin have achieved already in terms of products and customer references, but with the size of the opportunity that lies ahead of them.”

Ravelin was founded by Martin Sweeney in 2015.