Worldpay has announced last week a definitive agreement to acquire Ravelin, a London-based AI-driven fraud prevention platform.
The acquisition aims to strengthen Worldpay’s fraud prevention capabilities and support merchants in managing increasing fraud risks.
Founded in 2015, Ravelin has developed AI-based fraud detection and prevention solutions for e-commerce businesses.
The company specialises in identifying payment fraud, account takeovers, return and refund abuse, promotion and voucher misuse, and marketplace fraud.
It also provides 3D Secure authentication. Ravelin’s cloud-based AI platform is expected to enhance Worldpay’s ability to improve authorisation rates for its customers.
“Our acquisition of Ravelin aligns with our strategy to invest in innovation and AI technology, enhancing the value we provide customers and accelerating our e-commerce growth. In today’s online world, equipping merchants with next-generation AI-powered fraud prevention products is vital, and we believe Ravelin’s technology and expertise will significantly enhance Worldpay’s overall value proposition to the marketplace,”
said Charles Drucker, CEO of Worldpay.
Martin Sweeney, Ravelin’s Co-Founder and CEO, commented:
“Worldpay’s scale and reach, including processing approximately $2.5 trillion in payments volume and more than 50 billion transactions in 2024, will be an immense asset as we accelerate Ravelin’s momentum and advance our mission to eradicate fraud from the internet.”
The transaction is expected to be completed in the first quarter of 2025. KeyBanc Capital Markets acted as the exclusive financial adviser to Ravelin, while Wells Fargo and Citi advised Worldpay.
Featured image credit: edited from freepik
