Ravelin builds fraud-detection technology that leverages machine learning and graph network techniques to identify card fraud, account takeover, incentive abuse, and supplier fraud. The company has developed Ravelin Accept to help businesses navigate PDS2. It serves large-scale food and cab-ride marketplaces and has expanded into travel, ticketing, entertainment, gaming, gambling, and retail. Led by CEO Martin Sweeney, Ravelin says it has helped clients accept over 1.2 billion transactions and secure more than 230 million active user accounts. The company reports blocking 4 million fraudulent accounts that attempted 14.7 million orders worth $53B and an additional 1.6 million fraudulent accounts that attempted 7.4 million orders worth $17B. Fiserv recently selected Ravelin technology as a component of its Fraud Detect solution. Ravelin builds machine learning-based technology to help online merchants and payment service providers reduce fraud losses and improve order acceptance. The core product replaces cruder, rule-based systems to lower false positives and protect against chargebacks, account takeover, organised fraud and terms-of-service abuse. Launched in 2016, the company has added enterprise customers such as eShopWorld, Just Eat, Kinguin and Quiqup. Ravelin has recently developed a product for Payment Service Providers and plans to invest in complementary capabilities like account security and risk prediction. The new £8M Series B will fund expansion, including opening a properly staffed East Coast U.S. office and posting one of its co-founders there. Its longer-term aim is to identify different patterns of risk to personalise the customer journey, increasing friction for risky transactions and smoothing checkout for low-risk customers to boost conversions. Ravelin is a London-based real-time fraud detection platform that analyzes customer behaviour and transactions using proprietary data-science and machine-learning technologies. Led by CEO Martin Sweeney, the company works with online merchants to help accept more legitimate orders while rejecting suspicious or fraudulent ones. Since the first release of the product nine months earlier, Ravelin has added features and techniques and counts clients including Deliveroo, EasyTaxi and Via Taxis. The company completed a £3m funding round and intends to use the funds to grow the team and invest in the infrastructure and technology needed to expand adoption of its platform globally. The financing is intended to support further product development and international expansion. Ravelin provides real-time fraud detection and prevention using proprietary data science, anomaly detection and machine learning to score transaction reliability and identify bad actors. Its platform aims to help merchants accept more legitimate transactions while reducing false positives that turn away real customers. Information and decisions are delivered instantly to support payments at the speed required by dynamic businesses. The company has recently grown its technical team significantly to accelerate product development and partnerships. Ravelin plans to use new funding to expand the team, operations and customer base and to deepen its machine-learning, signals-intelligence and partnership capabilities. The company is a Barclays Techstars alumnus and emphasizes bringing enterprise-grade payments confidence to the on-demand market. Ravelin is building a hybrid fraud prevention platform that combines machine learning, social-graph and network analysis with human oversight via an aggregated dashboard for fraud analysts. The product is pitched to improve analyst efficiency, let companies set their own risk appetite, and supplement rather than replace existing human fraud processes. Ravelin targets SMEs and large, tech‑savvy companies and plans to sell via a SaaS per-transaction pricing model intended to slightly undercut the industry average. The company, formed in January by a team of ex‑Hailo employees, is working with a small group of beta customers — four confirmed partners — and is developing the product for a planned full market launch in Q4 after a six-month hardening process. Financially, Ravelin has received undisclosed seed funding from Passion Capital, which TechCrunch reports is investing above its ~£187,300 average; the sums are described as modest and are being used to fund beta development and go-to-market preparation. Ravelin operates out of Passion Capital’s White Bear Yard in London and positions itself against both long-established fraud-prevention players and pure-play machine-learning entrants such as Sift Science.

Total raised

$35M

Funding rounds

5

Latest round

Series C

Latest activity

Jul 2020