INSUBCONTINENT EXCLUSIVE:
Fraugster, the Berlin-based startup that uses artificial intelligence to prevent fraud for online retailers, has raised $14 million in a
The round is led by CommerzVentures, the venture capital subsidiary of Commerzbank, alongside early Fraugster investors Earlybird,
Speedinvest, Seedcamp and Rancilio Cube.Notably, Munich Re/HSB Ventures, the VC arm of global reinsurer Munich Re, also participated in the
from multiple sources, then analyzes and cross-checks it in a fraction of a second to determine whether a transaction is fraudulent or
accidentally preventing perfectly valid purchases) is the real bane of the industry.Citing industry average stats of false positives,
Fraugster CEO and co-founder CEO Max Laemmle tells me that for every dollar lost to fraud, $17 is lost through transactions that are wrongly
turned down, leading to lower revenues for merchants
continue expansion into new markets
