Alumni-founded payment fraud detection developer Ripple Shot has been backed by an Indiana University fund as it prepares to release its inaugural product.
Rippleshot, a US-based counter-payment fraud technology developer founded by Indiana University alumni, today revealed it raised $2.6m in a round backed by the institution’s Innovate Indiana Fund.
The capital was raised in February 2017 however Indiana’s involvement had not been disclosed until now.
Founded in 2014, Rippleshot is developing tools that identify potential cases of card fraud. The technology relies on machine learning and data analytics to handle millions of transactions in real time, alerting clients to data breaches and…
