Mangopay acquires fraud detection and prevention firm Nethone
Mangopay, a payment infrastructure provider, is acquiring fraud detection and prevention firm Nethone for an undisclosed sum.
Mangopay buys Nethone
With the acquisition, Mangopay intends to develop and offer anti-fraud solutions designed specifically for marketplaces.
Founded in 2016, Nethone’s AI and machine learning-based solution collects behavioural data, incorporates hardware, software, network intelligence and behavioural biometrics to allow platforms to make informed decisions and secure every point of the user journey on mobile or desktop.
Founded in 2016, Nethone claims to prevent over 95% of account takeovers, reducing fake accounts, fraud rates, chargebacks and unauthorised transactions.
It also claims to increase conversion rates by 9% and approval rates by 26%, as well as reducing false declines.
Following the acquisition, Nethone will remain a standalone company and Nethone’s CEO, Hubert Rachwalski von Rejchwald, will join Mangopay’s executive committee.
“Every platform must have a deep understanding of its users in real time throughout their entire customer journey to reduce fraudulent activity,” says Romain Mazeries, CEO of Mangopay. “This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”
Mangopay itself was acquired by private equity investor Advent International in April this year.
