Ravelin, a London-based antifraud technology provider this week revealed that it has secured £3 million ($3.7 million) in new financing that will fund global expansion of its flagship machine-learning product only nine months after its official release. The new round, led by Playfair Capital, brings Ravelin’s total funding to £4.3 million ($5.3 million). The company also said it recently added online food delivery company Deliveroo and taxi app EasyTaxi as clients. Ravelin uses a proprietary machine-learning technology to analyze customer behavior and transactions so it can deliver real-time decisions to prevent card-not-present fraud.
“We have focused squarely on growing the company by doing a great job for our clients,” said Martin Sweeney, CEO of Ravelin. “This investment enables us to continue to grow our team and invest in the infrastructure and technology we need to give the same great experience to even more clients based around the world.”