The amount of the deal was not disclosed. In conjunction with the transaction, Robert Dighero, Partner at Passion Capital, joined Ravelin’s board of directors.
The company intends to use the funds to continue product development while growing its initial beta customer base with a view to full commercial launch later in 2015.
Led by Martin Sweeney, co-founder & CEO, Ravelin provides a smart fraud prevention platform that combines machine learning and data science with a merchant’s own risk profiling to provide merchant-unique and pin-point accurate fraud detection.
The company is opeing its Beta program.