nSure.ai helps online merchants reduce dramatically the fraud and chargebacks in the digital goods arena
Tel Aviv, February 25, 2021, | Moneta VC team. Moneta Seeds-II announced today the closing of its investment in nSure.ai, an Israeli startup that offers an AI-based fraud protection solution, built for sellers of digital goods and services such as gift cards, airline tickets, concerts, and sports tickets, hotel vouchers, software, games, and more. nSure is the only anti-fraud and chargeback guarantee service designed from the ground up to meet the unique challenges of fraud-attractive goods, helping retailers reduce decline rates, increase revenue and improve customer satisfaction.
Online payment fraud costs businesses $230B annually (around 1.8% of all revenue). The real-time nature of the online digital goods industry, and its intrinsically low margin, make it impossible for retailers to allocate expensive resources for a post-sales manual review. nSure offers an AI based automated solution which was developed specifically for digital goods and allows merchants to increase deal acceptance rates and reduce decline rates that result from over-simplified payment protection methods.
nSure.ai was founded in 2019 by Alex Zeltcer and Ziv Isaiah, two experienced entrepreneurs who previously worked together at Zeek, one of the largest gift cards marketplace in Europe where they understood the critical importance of anti-fraud systems tailored specifically for digital goods.
nSure.ai’s solution was developed by the team as part of the AXA insurance venture program and since it was launch in 2020, it has been tested at scale, and handled transaction values in the aggregate of hundreds of millions of dollars.
As part of the investment, Adoram Gaash from Moneta has joined the Board as an observer.
About Moneta VC
Moneta is an Israeli venture capital firm that focuses solely on the Fintech/Insuretech industry. Since it was founded in 2015, Moneta has become Israel’s most active Fintech fund with many category-leading startups in its portfolio. Moneta operates two parallel VC funds: Moneta Seeds, which invests in early-stage startups, and Moneta Capital, which invests in growth rounds. The firm manages $150M, and in Q4/2020 we began investing through our third fund: Moneta Seeds II.
Contact: Adoram Gaash
7 Massada street, Bnei Berak, BSR-4 tower, Fl#28. Israel
Tel: 03-5544613, 03-5544715 www.monetavc.com