Forter CEO: "When the economy slows down, fraud goes up"

"What we're seeing is that every time the economy goes down, fraud goes up. So, we feel the pressure from our customers and potential customers. At the same time, companies are looking for revenue growth opportunities, so engaging with a company like Forter - which just in the last year alone we helped our customers generate $9.4 billion in revenue that they would have otherwise prevented - that's incredibly critical," Forter co-founder and CEO Michael Reitblat told CTech at the Mind the Tech conference in London. "We work with the largest companies selling online. We help them reduce a lot of the friction associated with digital payment while lowering their fraud rates."

The Israeli company was founded in 2013 by Reitblat together with Alon Shemesh, and Liron Damri. The company raised $300 million in Series F funding at a $3 billion valuation in May 2021.

"Forter is an e-commerce enablement and fraud prevention platform," said Reitblat. "We work with the largest companies selling online. We help them reduce a lot of the friction associated with digital payment while lowering their fraud rates."

You can watch the full interview in the video above.