The startup plans on expanding anti-fraud, chargeback-free guarantees portfolio
The world’s first fully automated fraud prevention platform, nSure Ai has reportedly secured $18 million in Series A funding round led by MoreTech Ventures with additional funds infused by seed-round participants such as Moneta Seeds, DisruptiveAI, and Gryffin Ventures.
With the recent influx of fresh capital, nSure Ai aims to extend the existing anti-fraud, chargeback-free guarantees and address the burgeoning demand from different sectors that currently remain devoid of a sufficient fraud prevention system.
Alex Zeltcer, Co-founder and CEO of nSure Ai, quoted that FinTech companies are facilitating massive incentive to counter sophisticated swindlers and scalable fraud patterns with instant funds provided as they boost wallets and crypto-driven services.
According to Zeltcer, the existing digital fraud prevention platforms are inadequate to deal with the new market, necessitating merchant-tailored AI models and real-time anomaly detection - similar to the ones offered by nSure Ai helping new generation companies.
nSure Ai CTO and Co-founder, Ziv Isaiah shared that the latest funding would enable the platform to ramp up technology and its in-house services, whilst the team continues to expand and add more companies and accommodate industry-specific requests.
Advent of online marketplace
Fraudsters are thriving in the rapidly growing digital marketplaces, thanks to the outdated fraud prevention systems incapable of managing sales of FinTech products, NFTs, crypto, and similar virtual goods.
Online retailers selling digital goods like gaming, gift cards, financial services, crypto, and airline tickers are often forced to incur 30% losses in sales due to the inability to retrieve lost goods irrespective of their expensive security tool.
With its guaranteed chargeback protection for all clients, nSure Ai has already emerged as a reliable and go-to platform for prepaid and gaming sectors.
Spearheading the future of digital transactions, nSure Ai leverages AI-powered Fraud Prevention Intelligence supporting continuous evolution based on the threat landscape and ensures legitimacy in transactions with 2% of fraudulent charges excluded.
Source Credit: https://techgraph.co/business/startup/nsure-ai-18-mn-series-a-round/