Today Nethone’s market success is fueled by: (i) first-hand expertise concerning modus operandi of fraudsters automatically converted into engineering; (ii) unique profiling capabilities on mobile; (iii) state-of-the-art passive behavioural biometrics for recurring user authentication; and (iv) explainability of its machine learning that boosts client adoption.
Nethone’s new investors are internationally known for their investments in transformational high-tech scale-ups focused on research, development and commercialisation of cutting-edge technologies.
“With the post-COVID critical significance of fraud prevention and the fierce competition in creating the frictionless user experience, Nethone has a novel approach to profiling technology fueled by machine learning. And since Atmos is focusing on developing deep technologies in ML-driven commercial solutions, Nethone Profiler combined with the explainability of the machine learning models was an obvious choice for us,” said Hadi Solh, Managing Partner at Atmos. “We are elated to join the team to arm online merchants with deep tech tools against fraudsters.”
“The accelerated growth of eCommerce in the pandemic era - up 30% in value by 2020, naturally increases the scale of fraud in the digital space. Nethone solves the problem of online payment and identity fraud, with annual losses worth around $50 billion. Their technology provides maximum protection without affecting the end-user experience. I see huge potential for the application of this technology, including other companies in our portfolio - wherever payments are involved. I am impressed with Nethone’s highly motivated team, as well as the organizational maturity for an early-stage company. Nethone has proven successful in onboarding clients ranging from traditional banks to fast-growing start-ups across the globe" - highlights Dariusz Lewandowski, CEO of ARIA.
Diego Montes, Venture Capital Investor from Plug and Play Ventures underlines that Nethone’s innovative user profiling, which encompasses more than 5,000 attributes, combined with ML and a specialized team of data scientists, has demonstrated the strength of Nethone's products. These unique elements have allowed Nethone to win clients over its competitors proving their immediate ROI.