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Fraud Detection

29 Well-Known Fraud Detection Startups

If you're building a Fraud Detection startup, you must check these 29 fast-growing companies.

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There are a lot of things to consider when building a new startup - where to get funding, how to validate your idea, and what features should the product have.

One of the challenges, however, is finding a market that is willing to pay for your solution without even knowing what it is yet.

While some people say this makes your idea too vague and hard to monetize, there’s actually good news.

There’s more money in this space than ever before by angels investing in early-stage companies.

If you're building a Fraud Detection startup, you must check these 29 fast-growing companies.


29 Fraud Detection Startups

1) Transmit Security

1) Transmit Security

For clients and employees, Transmit Security provides risk management and passwordless identity solutions.

Details of the startup:

  • Country: United States
  • City: Boston
  • Started in: 2014
  • Founders: Mickey Boodaei, Rakesh K. Loonkar
  • Number of employees: 101-250
  • Funding amount: $583,000,000
  • Number of funding rounds: 2
  • Number of investors: 9

You can find their website here.

2) Sift

2) Sift

Sift detects fraud and improves user experience by using insights from a worldwide network of data.

Details of the startup:

  • Country: United States
  • City: San Francisco
  • Started in: 2011
  • Founders: Brandon Ballinger, Jason Tan
  • Number of employees: 101-250
  • Funding amount: $156,500,000
  • Number of funding rounds: 6
  • Number of investors: 21

You can find their website here.

3) Forter

3) Forter

Forter's Decision as Service fraud solution helps retailers increase sales, cut costs, and improve customer experience.

Details of the startup:

  • Country: United States
  • City: New York
  • Started in: 2013
  • Founders: Alon Shemesh, Liron Damri, Michael Reitblat
  • Number of employees: 251-500
  • Funding amount: $525,000,000
  • Number of funding rounds: 6
  • Number of investors: 16

You can find their website here.

4) Jumio

4) Jumio

Jumio is an artificial intelligence platform that allows users to verify their identity remotely in order to avoid fraud and other financial crimes.

Details of the startup:

  • Country: United States
  • City: Palo Alto
  • Started in: 2016
  • Founders: Daniel Mattes, Robert Prigge
  • Number of employees: 1001-5000
  • Funding amount: $205,413,881
  • Number of funding rounds: 8
  • Number of investors: 8

You can find their website here.

5) Riskified

5) Riskified

By making eCommerce secure, accessible, and frictionless, Riskified enables businesses to fulfill its full potential.

Details of the startup:

  • Country: United States
  • City: New York
  • Started in: 2012
  • Founders: Assaf Feldman, Eido Gal
  • Number of employees: 501-1000
  • Funding amount: $228,650,000
  • Number of funding rounds: 6
  • Number of investors: 17

You can find their website here.

6) Veriff

6) Veriff

Veriff is a startup that protects businesses and their consumers from online identity fraud by verifying their identities online.

Details of the startup:

  • Country: Estonia
  • City: Tallinn
  • Started in: 2015
  • Founders: Janer Gorohhov, Kaarel Kotkas
  • Number of employees: 101-250
  • Funding amount: $92,320,000
  • Number of funding rounds: 6
  • Number of investors: 15

You can find their website here.

7) Pindrop

7) Pindrop

To boost call center efficiency and prevent fraudulent transactions, Pindrop employs AI-based IVR Authentication and Anti-Fraud Solutions.

Details of the startup:

  • Country: United States
  • City: Atlanta
  • Started in: 2011
  • Founders: Dr. Mustaque Ahamad, Paul Judge, Vijay Balasubramaniyan
  • Number of employees: 101-250
  • Funding amount: $219,599,996
  • Number of funding rounds: 6
  • Number of investors: 25

You can find their website here.

8) Feedzai

8) Feedzai

Feedzai creates risk management technologies that help businesses avoid fraud and money laundering.

Details of the startup:

  • Country: United States
  • City: San Mateo
  • Started in: 2009
  • Founders: Nuno Sebastiao, Paulo Marques, Pedro Bizarro
  • Number of employees: 251-500
  • Funding amount: $277,465,392
  • Number of funding rounds: 7
  • Number of investors: 11

You can find their website here.

9) Arkose Labs

9) Arkose Labs

For organizations, companies, and industries, Arkose Labs delivers fraud prevention, anti-spam, and misuse analysis.

Details of the startup:

  • Country: United States
  • City: San Francisco
  • Started in: 2017
  • Founders: Kevin Gosschalk, Matthew Ford
  • Number of employees: 101-250
  • Funding amount: $106,467,749
  • Number of funding rounds: 11
  • Number of investors: 10

You can find their website here.

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10) Agari

10) Agari

Agari is an email identity provider that protects businesses and individuals from phishing and social engineering assaults.

Details of the startup:

  • Country: United States
  • City: Foster City
  • Started in: 2009
  • Founders: Patrick Peterson
  • Number of employees: 101-250
  • Funding amount: $84,700,000
  • Number of funding rounds: 6
  • Number of investors: 10

You can find their website here.

11) ADVANCE.AI

11) ADVANCE.AI

ADVANCE is an APAC-based data-driven financial technology firm with many operations.

Details of the startup:

  • Country: Singapore
  • City: Singapore
  • Started in: 2014
  • Founders: Chun Dong Chau, Dong Shou, Jefferson Chen
  • Number of employees: 1001-5000
  • Funding amount: $136,000,000
  • Number of funding rounds: 5
  • Number of investors: 9

You can find their website here.

12) Chargeback

12) Chargeback

Chargeback is a SaaS-based dispute management software that assists merchants in preventing and managing chargeback fraud.

Details of the startup:

  • Country: United States
  • City: Salt Lake City
  • Started in: 2011
  • Founders: Colin Kent, Danny Mitchell, Dave Wilkes, David Adams, John Munro, Khalid El-Awady, Nate Smith, Scott Stone, Yale Wong
  • Number of employees: 51-100
  • Funding amount: $15,043,940
  • Number of funding rounds: 6
  • Number of investors: 6

You can find their website here.

13) Deduce

13) Deduce

To detect and deter bad actors and account takeover, Deduce uses real-time analytics profiling and scoring.

Details of the startup:

  • Country: United States
  • City: Philadelphia
  • Started in: 2019
  • Founders: Ari Jacoby
  • Number of employees: 1-10
  • Funding amount: $17,300,000
  • Number of funding rounds: 3
  • Number of investors: 9

You can find their website here.

14) EclecticIQ

14) EclecticIQ

EclecticIQ is a threat intelligence, hunting, and response technology company based in the United States.

Details of the startup:

  • Country: The Netherlands
  • City: Amsterdam
  • Started in: 2014
  • Founders: Joep Gommers, Raymon van der Velde
  • Number of employees: 101-250
  • Funding amount: € 67,355,000
  • Number of funding rounds: 7
  • Number of investors: 9

You can find their website here.

15) SpyCloud

15) SpyCloud

SpyCloud creates solutions for preventing account takeovers and investigating fraud.

Details of the startup:

  • Country: United States
  • City: Austin
  • Started in: 2016
  • Founders: David Endler, Ted Ross
  • Number of employees: 51-100
  • Funding amount: $58,500,000
  • Number of funding rounds: 4
  • Number of investors: 5

You can find their website here.

16) OCR Labs

16) OCR Labs

OCR Labs is a Digital ID company that offers frictionless client onboarding, data security, and fraud protection across a variety of channels.

Details of the startup:

  • Country: Australia
  • City: Sydney
  • Started in: 2014
  • Founders: Daniel Aiello, Matthew Adams
  • Number of employees: 11-50
  • Funding amount: $15,000,000
  • Number of funding rounds: 1
  • Number of investors: 1

You can find their website here.

17) NS8

17) NS8

NS8 is a fraud protection tool that helps businesses reduce risk by combining behavioral analytics and real-time scoring.

Details of the startup:

  • Country: United States
  • City: Las Vegas
  • Started in: 2016
  • Founders: Adam Rogas, David Hansen, Eric Kay, Paul Korol, Phil Vizzaccaro, Sean Clauretie
  • Number of employees: 101-250
  • Funding amount: $157,875,000
  • Number of funding rounds: 7
  • Number of investors: 13

You can find their website here.

18) IDfy

18) IDfy

IDfy is a people information company that helps businesses fight fraud by providing services like background checks.

Details of the startup:

  • Country: India
  • City: Mumbai
  • Started in: 2011
  • Founders: Ashok Hariharan, Hatim Baheranwala, Vineet Jawa
  • Number of employees: 101-250
  • Funding amount: $5,168,764
  • Number of funding rounds: 5
  • Number of investors: 8

You can find their website here.

19) SEON

19) SEON

Defending online enterprises from scam

Details of the startup:

  • Country: Hungary
  • City: Budapest
  • Started in: 2017
  • Founders: Bence Jendruszak, Tamas Kadar
  • Number of employees: 51-100
  • Funding amount: € 11,600,000
  • Number of funding rounds: 4
  • Number of investors: 12

You can find their website here.

20) Revelock

20) Revelock

Revelock is a fraud detection firm that protects the banking and financial industries from current cyber threats.

Details of the startup:

  • Country: Spain
  • City: Madrid
  • Started in: 2015
  • Founders: Pablo de la Riva
  • Number of employees: 51-100
  • Funding amount: $14,314,737
  • Number of funding rounds: 3
  • Number of investors: 5

You can find their website here.

21) Group-IB

21) Group-IB

Anti-APT and online fraud prevention solutions from a major provider of high-fidelity adversary monitoring.

Details of the startup:

  • Country: Singapore
  • City: Singapore
  • Started in: 2003
  • Founders: Dmitry Volkov, Ilya Sachkov
  • Number of employees: 501-1000
  • Funding amount: $938,000
  • Number of funding rounds: 2
  • Number of investors: 4

You can find their website here.

22) FRISS

22) FRISS

Friss is a P&C insurer's analytics software supplier for fraud, risk, and compliance.

Details of the startup:

  • Country: The Netherlands
  • City: Utrecht
  • Started in: 2006
  • Founders: Christian van Leeuwen, Jeroen Morrenhof
  • Number of employees: 101-250
  • Funding amount: € 15,000,000
  • Number of funding rounds: 1
  • Number of investors: 2

You can find their website here.

23) SHIELD

23) SHIELD

SHIELD is a risk intelligence business that focuses on mobile devices. By preventing fraud and abuse, we help world-class companies build trust and safety.

Details of the startup:

  • Country: Singapore
  • City: Singapore
  • Started in: 2008
  • Founders: Irene Brime, Justin Lie
  • Number of employees: 51-100
  • Funding amount: $25,500,000
  • Number of funding rounds: 2
  • Number of investors: 5

You can find their website here.

24) Fraugster

24) Fraugster

Fraugster is a German-Israeli anti-fraud firm that employs artificial intelligence to combat fraud and boost profitability for customers.

Details of the startup:

  • Country: Germany
  • City: Berlin
  • Started in: 2014
  • Founders: Chen Zamir, Max Laemmle
  • Number of employees: 51-100
  • Funding amount: $19,000,000
  • Number of funding rounds: 2
  • Number of investors: 7

You can find their website here.

25) Ethoca

25) Ethoca

Ethoca has made a name for itself as a cutting-edge, one-of-a-kind worldwide collaboration-based technology services provider.

Details of the startup:

  • Country: Canada
  • City: Toronto
  • Started in: 2005
  • Founders: Andre Edelbrock, Trevor Clarke
  • Number of employees: 51-100
  • Funding amount: $44,981,112
  • Number of funding rounds: 2
  • Number of investors: 4

You can find their website here.

26) ReaQta

26) ReaQta

The Top-Tier AI-Powered Endpoint Security Platform in Europe

Details of the startup:

  • Country: The Netherlands
  • City: Amsterdam
  • Started in: 2014
  • Founders: Giovanni Caporaletti, Giuseppe Massaro, Serge Wee Shuo
  • Number of employees: 1-10
  • Funding amount: € 2,470,336
  • Number of funding rounds: 3
  • Number of investors: 5

You can find their website here.

27) Authenteq

27) Authenteq

Authenteq delivers real-time identity verification based on privacy-by-design principles. In 60 seconds or less, IDs are verified.

Details of the startup:

  • Country: Iceland
  • City: Reykjavík
  • Started in: 2015
  • Founders: Adam H. Martin, Kari Thor Runarsson, Runar Karlsson
  • Number of employees: 11-50
  • Funding amount: $7,398,103
  • Number of funding rounds: 8
  • Number of investors: 8

You can find their website here.

28) Sedicii

28) Sedicii

Sedicii is a service that verifies identification data between two organizations without revealing the underlying information.

Details of the startup:

  • Country: Ireland
  • City: Waterford
  • Started in: 2013
  • Founders: Rob Leslie
  • Number of employees: 11-50
  • Funding amount: $3,315,367
  • Number of funding rounds: 4
  • Number of investors: 4

You can find their website here.

29) VU Security

29) VU Security

VU Security is a cybersecurity firm that focuses on fraud prevention and identity theft.

Details of the startup:

  • Country: Argentina
  • City: Buenos Aires
  • Started in: 2006
  • Founders: Sebastian Stranieri
  • Number of employees: 101-250
  • Funding amount: $7,461,980
  • Number of funding rounds: 9
  • Number of investors: 6

You can find their website here.

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