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Payment Fraud Prevention Company Forter Raises $50 Million

Forter supplies businesses with a service that marks incoming payments as credible or likely fraudulent

Hagar Ravet 17:2826.09.18

Tel Aviv-based payment fraud prevention company Forter Inc. raised $50 million in a Series D financing, the company announced Wednesday. The round was led by Santa Monica, California-based March Capital Partners, with participation from Salesforce Ventures, the corporate venture arm of Salesforce.com Inc., and previous investors Sequoia Capital, New Enterprise Associates (NEA) and Scale Venture Partners.

 

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Founded in 2013 by former employees of PayPal’s anti-fraud development center in Israel, Forter supplies businesses with a service that marks incoming payments as credible or likely fraudulent. The company already has a database covering more than 180 million U.S. shoppers, the company said in a statement.

 

Forter founders (left tyo right) Alon Shemesh, Michael Reitblat, and Liron Damri. Photo: Forter Forter founders (left tyo right) Alon Shemesh, Michael Reitblat, and Liron Damri. Photo: Forter

 

 

The funding round is Forter’s largest to date, bringing the company’s total financing to $100 million. The company recently announced its expansion into Europe with the opening of its first U.K. office in London.

 

 

 

The company plans to “double” its investment in research and development, expand its “global coverage,” and “facilitate further collaboration in the e-commerce and payments ecosystem,” Forter Co-founder and CEO Michael Reitblat said.

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