Worldpay has entered into a definitive agreement to acquire Ravelin, the UK-based AI-native fraud prevention platform.
The rationale? Worldpay says Ravelin will complement and enhance its portfolio of value-added solutions and ‘enable merchants of all sizes to grow faster and protect their businesses as fraud activity accelerates globally’.
Since its inception in 2015, Ravelin has developed next-generation fraud prediction and prevention solutions for e-commerce merchants, as we’ve detailed previously on these pages and at the Fraud Prevention Summit.
Ravelin has established itself as a market leader in identifying payment fraud, account takeover, return & refund abuse, promotion & voucher abuse and marketplace fraud, and performing 3D Secure authentication.
In addition, Worldpay says Ravelin’s cloud-based AI platform will allow its to offer its customers leading-edge technology to further improve authorisation rates.
The transaction is expected to close in Q1 2025.
“Our acquisition of Ravelin aligns with our strategy to invest in innovation and AI technology, enhancing the value we provide customers and accelerating our e-commerce growth,” said Charles Drucker, Chief Executive Officer of Worldpay. “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. We look forward to partnering with Ravelin’s leadership and their talented team to help our customers address their most complex challenges.”
“Ravelin is thrilled to be joining Worldpay, a true global leader in the payments industry,” said Martin Sweeney, Co-Founder and Chief Executive Officer of Ravelin. “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.”
