×
146
Fashion Jobs
SAROJ JALAN
Marketing Strategist
Permanent · KOLKATA
ADD UR CO LLP
Production Manager
Permanent · Chennai
THE GLOBAL ZONE HR SERVICES
Production Manager/ Supervisor/ Incharge
Permanent · Pune
PUMA
Manager - Digital Marketing
Permanent · Bengaluru
THE BANYAN HR CONSULTS
Brand Manager For Leading Women's Wear Garments CO at Coimbatore
Permanent · Coimbatore
LEVI'S
Manager, Retail Merchandising (Ebo)
Permanent · Bengaluru
GLAN MANAGEMENT CONSULTANCY
Senior Buyer Lingerie (Knits Western Wear) - Retail Brand
Permanent · GURUGRAM
JOB INDIA
Asst. Manager E-Com Operations (Garments Retail) Gurgaon
Permanent · Faridabad
VASTRAKALA EXPORTS
Quality Manager
Permanent · CHENNAI
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Manager / in Charge - Production/Quality/Cutting - Garments Industry
Permanent · Bhiwandi
MINT AND MILK COMMUNICATIONS
Senior Account Executive
Permanent · MUMBAI
PUMA
Manager- Buying (Apparel)
Permanent · Bengaluru
PUMA
Manager- Business Intelligence
Permanent · Bengaluru
PUMA
Manager- Trade Compliance
Permanent · Bengaluru
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
PUMA
Regional Sales Manager- Mbo (South)
Permanent · Bengaluru
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
PUMA
Manager Merchandising
Permanent · Bengaluru
PUMA
Project Manager- Operations
Permanent · Bengaluru
PUMA
Manager- Logistics Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
By
Reuters
Published
Jun 27, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Groupe Arnault backs e-commerce fraud preventer Riskified

By
Reuters
Published
Jun 27, 2017

Riskified, an e-commerce fraud prevention startup, has raised $33 million in new funding from investors including Groupe Arnault, which controls French luxury goods conglomerate LVMH, and Capital One Financial Corp, it said on Tuesday.

The funding was led by Israeli venture capital firm Pitango Growth and also included Qumra Capital, C4 Ventures, Phoenix Insurance Company and Genesis Partners. Capital One participated through its venture arm, Tel Aviv-based Riskified said in a statement.


A promotional image of a Chloé bag for LVMH's 24Sèvres e-commerce store, launched in a limited scope in May.



Riskified, whose clients include U.S. retailers Macy's and Foot Locker Inc, said it would use the funds to expand globally and accelerate sales of its software, which helps merchants spot online payment fraud and reduce false alarms that cause genuine buyers to be turned down.

In 2016, every dollar of fraud cost merchants $2.40, up from $2.23 a year ago, according to a report from LexisNexis. Fraud as a percentage of revenues grew to 1.47 percent from 1.32 percent over the year.

"As more and more consumers move their shopping online, the fraudsters follow," Riskified co-founder and Chief Executive Eido Gal said in an emailed response to questions by Reuters. "The market for our service is big and getting bigger."

Founded in 2013, Riskified is among a growing number of software developers which help companies analyze vast amounts of data with little manpower.

Riskified plans to increase its focus on the U.S. market, where many of its merchants are based, Gal said. It expects to employ 65 people in its New York office by year-end, he added.

Gal described Riskified's investors as strategic partners, but declined to say whether companies owned by Groupe Arnault would be using its technology.

LVMH said in May that it would launch an e-commerce site to host all of its brands, as the world's biggest luxury goods group seeks to capitalize on the sector's online sales boom.

 

© Thomson Reuters 2022 All rights reserved.