Israeli fraud protection firm banks $18m in series A money

Israel-based Nsure.ai, an automated charge-back guarantee platform, raised US$18 million in a series A funding round led by MoreTech Ventures and joined by investors DisruptiveAI, Gryffin Ventures, and Moneta Seeds.

Nsure.ai co-founders Alex Zeltcer (left) and Ziv Isaiah / Photo credit: Nsure.ai

Nsure.ai provides firms with software that can help protect them against fraud. It provides its tech to companies that operate in the crypto payments, NFT, digital wallet, banking, airline ticket, software, and gaming spaces, among others.

The company was founded in 2019 by CEO Alex Zeltcer and CTO Isaiah Ziv. Before launching Nsure.ai, Zeltcer most recently served as a partner at angel investment group AfterDoc, while Ziv co-founded blockchain-based fintech firm Zeex.

According to Zeltcer, standard ecommerce-based fraud prevention platforms are insufficient in dealing with the newer forms of fraud that have cropped up with the rise of e-wallets and crypto. “Merchant-specific AI models, along with real-time anomaly detection such as the ones we offer, help these new generation companies on their growth without taking excessive risk,” he said.

Nsure.ai plans to use the new capital to expand the capabilities of its tech stack and help it meet the growing demand for its services. MoreTech Ventures partner Sam Bernstein said Nsure.ai saw a 500% increase in revenue in just over a year.

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