ThetaRay is an Israeli cybersecurity technology startup which enables the acceleration of cross-border payments between banks while protecting financial institutions from financial crime. The company has completed a new $31 million fundraising round. New investors include Eric Benhamou, investing through Benhamou Global Ventures, and Saints Fund, which has appointed one of its managing partners as an observer to the ThetaRay board. Existing investors OurCrowd, Bank Hapoalim, SBT and others also participated in the round.
This round brings ThetaRay’s total funding to more than $90 million.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
The company has also says that the Governments of Nigeria and Ukraine have successfully implemented ThetaRay’s solutions in fighting terrorism and corruption. These governments have joined some of the largest banks in the world, including Banco Santander, putting ThetaRay’s solution at the forefront of international commerce and the war against global financial crime.
Fintech is anything new having to do with using technology to improve the transfers of money, or payments. This includes just about everything like every time a person pays for something on line. This, of course, comes with a need for improved cybersecurity to protect all such transactions. So it makes sense that a company like ThetaRay specializes in fintech cybersecurity.
Founded in 2013, ThetaRay states that it is dedicated to helping clients at large financial organizations, cyber security divisions and critical infrastructure become more resilient and seize opportunities. The company boasts that its advanced analytical solutions operate with “unprecedented speed, accuracy and scale, enabling clients to manage risk, detect money laundering schemes, uncover fraud, expose bad loans, uncover operational issues and reveal valuable new growth opportunities.”
–
********WEBINAR*********
Following our latest news of raising $31M, join us for our Cross Border Saas Product Launch #WEBINAR, May 26th, 9:00am EST, where we will discuss how we have created a new standard for trusted global transactions.https://t.co/xUki2oCOmp pic.twitter.com/JWIL1J5QNj— ThetaRay (@ThetaRayTeam) May 20, 2021
ThetaRay’s Fsays that it’s financial Crimes Prevention Solution is designed to instill certainty and reduce risks in cross-border payments, and to protect banks, fintech companies and private companies that offer payment transfers. It protects them against attempts to abuse their money transfer platforms for sophisticated money laundering. The solution reduces total cost of ownership (TCO), quickly increases revenues, improves customer service, and boosts ROI.
–
Mark Gazit, CEO, ThetaRay, said, “We are on the verge of a real revolution in securing the global financial system. During this period, when the cross-border payment network has become the lifeblood of the world trade infrastructure, ThetaRay is here to instill certainty and reduce risks in secure cross-border payments. Furthermore, ThetaRay’s unique and reliable solution allows full detection of known and unknown threats, as well as a 99% alert reduction compared to legacy systems. Our target market has become almost endless with the launch of our cloud solution, which guarantees the company’s aggressive growth in the coming years. We thank our existing investors, especially JVP, for their trust in the company and its solutions, and welcome the new investors that have joined us.”
