MANGOPAY acquires Nethone to help marketplaces combat fraud
By Gloria Methri
Payment infrastructure provider MANGOPAY has acquired Polish AI fraud detection and prevention firm Nethone, to develop and offer anti-fraud solutions for marketplaces.
Marketplaces account for over two-thirds of global e-commerce transactions, making them a prime target for fraudsters. To better detect and prevent threats in real-time, MANGOPAY and Nethone are creating a fraud prevention solution specifically for platforms and marketplaces.
This solution will allow any type of platform to transform threats and challenges posed by malicious activity into profitable business decisions.
Nethone’s proprietary machine-learning-powered solution incorporates behavioural data collection, hardware, software, network intelligence, as well as behavioural biometrics to allow platforms to make informed decisions and secure every point of the user journey, both on mobile and desktop.
With a wide range of mobile-native attributes analysed, the solution identifies fraudulent activity within the number of transactions carried out on mobile devices.
Romain Mazeries, CEO of MANGOPAY, said, “We are delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure. This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”
Nethone will continue to serve companies worldwide, led by its current CEO and co-founder, Hubert Rachwalski von Rejchwald, who joins MANGOPAY’s Executive Committee.
Speaking on the acquisition, Rejchwald said, “We are excited to have Advent International as our new majority investor and to be joining the MANGOPAY rocket ship. Going forward, on top of accelerating Nethone’s own dynamic expansion according to our standalone business plan, we will work on the tremendous potential identified among MANGOPAY’s 2,500+ existing platform customers. Together we will take our unique Know Your User technology and further refine it to be the best-in-class platform-specific solution.”
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