San Francisco based Fraud prevention company, Forter, secured $32m in Series C funding led by Scale Venture Partners. The investment is intended to help tackle the rising number of chargebacks retailers experience due to fraudulent purchases.
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Forter raises $32M Series C, continues battle against online fraud
“We tried other fraud tools and indicators, both proprietary and third-party, that were only marginally effective and still required a lot of operational overhead,” says Colin Sims, COO of Delivery.com. “Approval rates are extremely high, decisions are instant, chargebacks are low, and most importantly, our staff has far more time to assist our customers and merchants, instead of reviewing and auditing transactions. It really is the best of all worlds for us.”
