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nSure.ai raises $13 million for fraud prevention platform

nSure.ai raises $13 million for fraud prevention platform

The Israeli startup claims that its fraud protection intelligence reduces decline rates by 90%, using merchant-specific data to approve up to 98% of transactions

Meir Orbach | 12:55  02.03.2022

nSure.ai, which has developed an automated chargeback guarantee platform, has raised $13 million in Series A funding, led by MoreTech Ventures with additional investments by seed-round participants, including DisruptiveAI, Gryffin Ventures, and Moneta Seeds. The company raised $3.5 million in a Seed round last year led by DisruptiveAI and has to date raised $25 million in total, as well as an additional $5 million in credit.

nSure.ai was founded in 2019 by Ziv Isaiah and Alex Zeltcer and employs 25 people, most of them in Israel.

nSure.ai co-founders Ziv Isaiah and Alex Zeltcer. Photo: nSure.ai nSure.ai co-founders Ziv Isaiah and Alex Zeltcer. Photo: nSure.ai nSure.ai co-founders Ziv Isaiah and Alex Zeltcer. Photo: nSure.ai

According to the company, online retailers of fintech products, cryptocurrencies, NFTs, games, and others sacrifice 30% of sales due to fraud suspicions. nSure.ai claims that its fraud protection intelligence reduces decline rates by 90%, using merchant-specific data to approve up to 98% of transactions.

“FinTech companies powering wallets and crypto-based services offer an immediate transfer of funds, creating a huge incentive for sophisticated fraudsters and scalable fraud patterns,” said Alex Zeltcer, Co-founder and CEO of nSure.ai. “Standard, e-commerce based fraud prevention platforms are ill-equipped to deal with this new market. Merchant-specific AI models, along with real-time anomaly detection, such as the ones we offer, help these new generation companies in their growth without taking excessive risk."

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