News

Fraugster raises $14M for expansion strategy

November 12, 2018

Fraugster, a software start-up that taps AI to prevent fraud for e-commerce retailers, now has $14 million in Series B funding for expanding into new markets, a news release said.

Fraugster's client list includes Ingenico ePayments, Six Payments and other payment companies, according to a press release. Online merchants lose more than $30 billion to fraudulent transactions every year — roughly 1.5 percent of their revenue, according to the release.