A startup that helps ‘on demand’ businesses with credit card fraud just raised money from the …

Anti-fraud startup Ravelin has raised £1.3 million from a host of top investors, including the founder of Wonga and the newly appointed chair of Tech City UK. Ravelin uses machine learning, combined with human analysis, to detect credit card fraud in “on-demand” businesses — everything from food delivery and car hailing apps to online gambling and subscription businesses. CEO Martin Sweeney told Business Insider: “We specialise in apps. I mentioned food delivery and taxis, those are big areas in Europe at the moment and we’re working very hard in that space. But also online gambling. It’s so easy to commit fraud with these new on-demand businesses and it’s a tremendous problem for businesses in this space. “Credit card fraud is a growing business and getting details is getting easier and…


Link to Full Article: A startup that helps ‘on demand’ businesses with credit card fraud just raised money from the …