General Atlantic-backed Riskified raised more than USD 367 million in an IPO on the NYSE less than a decade since its founding in Tel Aviv.
Led by CEO Eido Gal (middle), Riskified raised USD 367.5 million in an IPO on the NYSE. Photo courtesy of Riskified.
In China, Riskified helps merchants detect fraud in cross-border e-commerce, as advanced fraud detection for domestic transactions is typically not necessary due to Chinese apps’ requirement for users to register with real-name verification. One of its main clients includes travel booking platform Trip.com. “In China, we’ve seen amazing demand from Chinese merchants selling overseas, and our core focus is to help them accept international credit cards and avoid fraud when conducting cross-border transactions. We’ve really seen this take off in the last two years,” said Riskified’s CEO and co-founder Eido Gal.
The company opened an office in Shanghai in April 2020 and is growing its presence throughout Asia in places like Singapore and Australia. “Overall, our system is very scalable across payments and geographies,” Gal explained, as the company is opening additional offices in London, Mexico, and Brazil.
Riskified’s ambitions are global, with an eye on Southeast Asia’s rapidly developing e-commerce ecosystem shaped by companies like Lazada, Shopee, and Tokopedia. “Southeast Asia is evolving so quickly. We’re seeing new forms of payments with digital wallets and cash on delivery. It’s just really exciting to see the growth trajectory, even if it’s starting at a relatively lower overall base,” Gal said.