Forter raises $300m in Series F to invest in fraud prevention tech

Forter, a US-based fraud prevention firm, has raised $300 million in a Series F funding round, which values the company at $3 billion.

Forter has raised $525m since 2013 and is now valued at $3bn

Leading this latest round is Tiger Global Management, joined by new investors Third Point Ventures and Adage Capital Management.

Existing backers Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, and Salesforce Ventures also participated.

The Series F comes just six months after the company completed its $125 million Series E round, and the firm claims it is now the world’s most valuable privately held fraud prevention company.

Founded in Tel-Aviv in 2013, Forter has raised a total of $525 million over six funding rounds.

“We have set a new standard for trust in commerce,” says CEO and co-founder Michael Reitblat.

“Forter’s platform brings together merchants, banks and payment providers to dramatically improve authorisation rates, eliminate false declines and allow consumers to shop with greater convenience.”

He says the investment will go towards “talent, technology and continued global expansion”.

Forter has signed recent partnerships with Capital One, Flutterwave, FreedomPay, and Nuvei. Other clients include clothing chains ASOS and Boohoo, fashion brand Hugo Boss, and software firm Adobe.

Related: UK payments industry reacts to second SCA deadline extension

Source: https://www.fintechfutures.com/2021/05/forter-raises-300m-in-series-f-to-invest-in-fraud-prevention-tech/

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