Payments technology and solutions company Worldpay has agreed to acquire Ravelin, a UK-based artificial intelligence (AI)-native fraud prevention platform.
Through the acquisition, Worldpay aims to enhance its portfolio of value-added solutions.
This will allow merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally.
Founded in 2015, Ravelin has developed advanced fraud prediction and prevention solutions tailored for e-commerce businesses.
The company specialises in detecting payment fraud, account takeovers, return and refund abuse, promotion and voucher abuse, marketplace fraud, and performing 3D secure authentication.
Its cloud-based AI technology is designed to improve authorisation rates and mitigate fraud risks for businesses of all sizes.
Ravelin co-founder and CEO Martin Sweeney said: “Worldpay’s scale and reach, including processing approximately $2.5 trillion in payments volume and more than 50 billion transactions in 2024, will be an immense asset as we accelerate Ravelin’s momentum and advance our mission to eradicate fraud from the internet.
“Together, we will be able to deliver innovation at scale, driving the adoption of our industry-leading fraud solutions to customers as they respond to increasingly sophisticated threats and rising fraud-related costs.”
Worldpay is said to process more than 50 billion transactions annually across 146 countries and 135 currencies.
Worldpay CEO Charles Drucker said: “In today’s online world, equipping merchants with next-generation AI-powered fraud prevention products is vital, and we believe Ravelin’s technology and expertise will significantly enhance Worldpay’s overall value proposition to the marketplace.”
The transaction is expected to close in Q1 2025.
For the transaction, KeyBanc Capital Markets acted as the exclusive financial adviser to Ravelin, while Wells Fargo and Citi advised Worldpay.
