Netherlands-based fraud prevention company ThreatFabric has raised EUR 11.5 million in a seed funding round. The investment, co-led by ABN AMRO Ventures and Motive Ventures, with participation from 10xFounders and 14Peaks Capital, will facilitate global expansion and strengthen fraud detection mechanisms.

ThreatFabric employs advanced AI models to profile fraudsters' behaviors, enhancing protection throughout online registration and payment processes. This proactive approach is crucial in light of the escalating challenge posed by online fraud.

The surge in online fraud is a mounting concern, as evidenced by a 71% YoY rise in reported losses, reaching GBP 1.2 billion in the first half of 2022 in the UK. ThreatFabric's innovative software empowers financial institutions to safeguard their clients against fraud and malware, utilizing layers of security.

A substantial portion of the funds will be allocated to enhancing ThreatFabric's Fraud Risk Suite. This includes refining behavior-based location intelligence and behavioral biometrics, bolstering proactive fraud control. Leveraging its deep expertise in fraud-based threat intelligence, ThreatFabric anticipates potential risks and adapts to evolving fraudster tactics within payment solutions.

Aligned with the ever-evolving landscape of online fraud defense, ThreatFabric's commitment to AI-driven threat modeling remains strong. This seed funding serves as a catalyst for expanding the Fraud Risk Suite platform, introducing cutting-edge controls like behavior-based location intelligence and behavioral biometrics, both powered by advanced AI models. These enhancements are aimed at predicting potential fraudulent activities within payment processes, underscoring ThreatFabric's dedication to innovation in the face of emerging cyber threats.