Nethone, a Warsaw, Poland-based KYU (Know Your User) company which uses artificial intelligence to detect fraud in online transactions, raised over $1m in the first round of financing.
Innovation Nest made the investment.
The company intends to use the funds to expand its operations and grow in new markets.
Established in 2016 by Daftcode – the largest Polish Venture Builder, Nethone provides a solution useful wherever there is a risk of fraud in online transactions. Its technology employs innovative methods of user profiling and machine learning, which enable automatic detection of suspicious users, as well as help entrepreneurs understand their clients better.
Solutions include i.e. top-class security against fraud, real-time tools for adaptive segmentation and customer retention, and behavioral analysis in banking systems to prevent account takeover.
The company operates globally and supports large entities from travel and e-commerce industries. Clients include the eSky group Brazilian airline Azul and Polish Airlines LOT, ING Group, etc.
At the beginning of 2019, Nethone got into the Plug & Play.