After secured an investment from the Worldpay early this year (see report), Veridu has just received a new investment from Global Risk Technologies. The investment sum is not disclosed but described as “significant”.
Dublin-based Global Risk Technologies is a leading provider of risk reducing services in the payment industry. It expects this collaboration would help itself grow progressively and sustainably in the global e-commerce market, according to Finextra.
“We have looked at dozens of similar investments over the last couple of years and are very impressed with Veridu’s technology, leadership, and composition.”- commented by Gary Cardone, Co-Founder and CEO of Global Risk Technologies.
Nowadays, the risk alongside the expansion of online payment has raised great concern from online merchants. Because they suffered significant revenue loss due to the increasing frauds occurred in the chargeback process. The technologies provided by Veridu can help to address the problems by intelligently secure the identity authentication.
Both of the two companies are confident in in the future due to the new partnership. The combined intelligence could provide an effective revenue-saving alternative to all e-merchants,according to Finextra.
“With this we’re able to identify and stop fraud, limiting chargebacks and saving vital revenue at a time of tight profit margins… We are very excited to see where this joint endeavor will take us.” – says Rasmus Groth, Founding CEO of Veridu.
Veridu is an innovative startup specialized in providing identity verification services. It was founded by respected industry veterans and thought leaders from 192Business and DNB. Originally established in Copenhagen, the 2 year-old Veridu is now headquartered in London.