Rippleshot is a Chicago, IL-based fraud analytics startup led by CEO and co-founder Canh Tran. The company provides issuers, merchants and processors with a cloud-based platform that uses machine learning and data analytics to detect fraud. Its technology processes millions of payment card transactions in real-time to pinpoint when and where card-data breaches occurred, identify which cards are most at risk, and suggest mitigation strategies to prevent fraud loss. In August 2017 Rippleshot secured $2.6M in funding in a round led by KDWC with participation from CMFG Ventures. The company intends to use the funds to grow its technical team of developers and data scientists to expand in the credit union and banking market and to enter the merchant fraud detection space. The financing announcement coincided with the addition of Gloria Colgan, former president of PYMNTS.com, to Rippleshot's advisory board. Rippleshot is a Chicago-based fraud analytics company that provides banks and credit unions with a cloud-based machine-learning and data-analytics platform. Its technology processes millions of payment card transactions in real time to pinpoint when and where a data breach occurred and identify fraudulent activity. Following detection the platform provides banks with tools to update fraud detection rules to lower fraud losses while avoiding unnecessary card re-issuance. The company intends to use the $1.2M bridge funding to expand its sales, development and account management teams. The financing was led by KGC Capital with participation from UMB Bank, Wintrust and fintech accelerator SixThirty, and Jason Henrichs joined Rippleshot’s advisory board in conjunction with the round. The company is led by CEO and co-founder Canh Tran.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2017