London based company using machine learning to help companies fight fraud when accepting online payments raised $20m in Series C funding, led by Draper Esprit.
“We have a product that helps secure accounts in the first place, identify at risk accounts and help the merchant reclaim the account for the original user,” explains Ravelin’s chief marketing officer Gerry Carr. “It’s a complex problem and due to the ease that it can be done, a fast growing issue.” Comments Draper Esprit’s Vinoth Jayakumar: “Our model is to invest in innovation over the long term. Ravelin perfectly aligns with that thesis. The team at Ravelin are world-class and continue to work to push the boundaries of their products… What got us really excited was the range of problems they solve for clients and the suite of products they are developing.”