Amsterdam-based ThreatFabric, specialising in tools and expertise for detecting banking threats, has secured additional funding from Rabo Investments as part of an extension to its 2023 seed round. The amount, however, remains undisclosed.
Anton Jan Cozijnsen, leading Rabobank’s fraud detection efforts, says, “We’ve worked with ThreatFabric closely for years and actively collaborate on the roadmap. Co-creation is what makes their product suites so powerful. We’re excited to extend the partnership.”
Floris Onvlee, Director Corporate Venturing at Rabo Investments, adds, “Given the successful collaboration between ThreatFabric and Rabobank, we have witnessed firsthand how their threat intelligence and fraud prevention products benefit banks and their customers.”
“We believe that building strong partnerships is vital to effectively fight financial crime at global scale. This partnership will accelerate the global strategy of ThreatFabric, as it will also benefit our customers.”
Rabo Investments joins existing investors Motive Ventures, 10x Founders, and 14Peaks Capital.
Capital utilisation
The funds will help drive ThreatFabric’s international expansion and efforts to bolster banking system security. The company and Rabobank aim to develop a long-term collaborative partnership.
Han Sahin, CEO of ThreatFabric, says, “We believe in close collaboration with our customers to elevate our products to enterprise-grade standards. I’m thrilled that Rabobank is now more than just a customer.”
“Our journey together began nearly two decades ago with security code reviews on Rabobank’s first online banking product. Today, they are partners. Their invaluable expertise in fraud prevention strengthens our shared mission. Rabobank’s trust in us reinforces our belief in our mission.”
Tackling complex online fraud
Online fraud is on the rise, fueled by data breaches and AI-driven tools, according to a UK Finance report highlighting its impact on individuals and businesses in the UK.
To combat this, ThreatFabric offers advanced software to help banks and financial institutions protect against fraud and malware.
The company’s SaaS solution provides comprehensive fraud visibility across web and mobile channels using tools like on-device malware detection and behavioural analytics.
Co-founded in 2015 by Han Sahin and Yorick Koster, ThreatFabric evolved from its Fraud Risk Suite product, which was developed in collaboration with ABN AMRO Bank.
Brief about Rabobank
Rabobank is a global financial services provider operating on cooperative principles. It offers retail, wholesale, and private banking, as well as leasing and real estate services.
The bank aims to become a leading cooperative bank in the Netherlands and a global leader in food and agriculture banking. As of December 31, 2023, Rabobank employed 49,000 full-time equivalents and operated in 37 countries.
Rabo Investments, the investment arm of Rabobank, supports its mission by fostering innovation through Rabo Investments Corporate Venturing (RICV). RICV invests in partnerships, emerging technologies, and new business models to strengthen and secure the financial ecosystem.
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