Fraud detection firm Ravelin announces £8m Series B funding

London-based fraud and risk prediction company Ravelin has announced an £8m Series B financing round to fund expansion in the U.S.

European private equity firm Blackfin Capital Partners led the round with existing backers Amadeus Capital Partners, Passion Capital and Playfair Capital retaining their stakes.

Ravelin, which has clients including Just Eat and e-Shopworld, uses machine learning to help online merchants and payment service providers reduce fraud and improve acceptance rates of orders.

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