• nSure.ai, a fraud detection technology, has raised $18 million in Series A funding

  • nSure.ai, a fraud-prevention intelligence platform, recently announced a $18 million Series A fundraising round led by MoreTech Ventures, with participation from DisruptiveAI, Gryffin Ventures, and Moneta Seeds.

    The fintech security platform claims to be the world’s first completely automated chargeback guarantee platform, and they intend to utilize the cash to expand their existing anti-fraud, chargeback-free promises.

    NSure.ai is a platform that protects merchants of digital goods by focusing on high-risk industries such as prepaid, gift cards, cryptocurrency, and gaming.

    Co-founder and CEO of nSure.ai, Alex Zeltcer. According to a news release:

    “FinTech businesses powering wallets and crypto-based services provide instant funds transfer, creating a major incentive for expert fraudsters and scalable fraud practices.” Standard fraud protection technologies based on e-commerce are unprepared to deal with this new market. Merchant-specific AI models, as well as real-time anomaly detection, such as the ones we provide, assist these new generation enterprises in their growth while minimizing risk.”

    MoreTech Ventures Partner Sam Bernstein added:

    “nSure.ai is the first company to deliver a specific product to protect merchants selling digital goods – a rapidly developing area that is notoriously tough to defend against fraud,” said Sam Bernstein, Partner at MoreTech Ventures. “Through machine learning, nSure.ai’s customers receive a bespoke solution that maximizes approvals, lowers friction, and has a revenue model that is completely aligned with their goals.” Sure.ai gained remarkable traction, increasing income by 500% in just over a year. Bottom line, merchants who offer digital items use nSure.ai.”

    The rapid rise of the fintech industry has resulted in increased sophistication in fraud and cybercrime. Specifically, the crypto business, which, while still in its infancy, is constantly threatened by cybercrime and industry-specific fraud.

    While it is extremely difficult to recover lost cash caused by a variety of faults or fraudulent behavior, fraud prevention intelligence can reduce fraud with merchant-specific data that can approve up to 98 percent of transactions, according to the platform.

    What's your reaction?