Worldpay, a firm focused on payments tech and solutions, has announced that it entered into a definitive agreement to acquire Ravelin, an AI-native fraud prevention platform based in London, UK.
The acquisition of Ravelin will complement and enhance Worldpay’s portfolio of solutions and enable merchants of all sizes to grow and “protect their businesses as fraud activity accelerates globally.”
Since its inception in 2015, Ravelin has reportedly developed fraud prediction and prevention solutions for e-commerce merchants.
Over this period, Ravelin has established itself as a key player focused on identifying payment fraud, “account takeover, return & refund abuse, promotion & voucher abuse and marketplace fraud, and performing 3D Secure authentication.”
In addition, Ravelin’s cloud-based AI platform will allow Worldpay “to offer its customers technology to improve authorization rates.”
Charles Drucker, chief executive officer of Worldpay said:
“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. 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.”
The transaction is expected to “close in Q1 2025.”
KeyBanc Capital Markets served as exclusive financial advisor to Ravelin.
Wells Fargo and Citi served as advisors to Worldpay.
Worldpay is a payments technology and solutions company with capabilities to “power omni-commerce across the globe.”
Their processing solutions allow businesses to “take, make and manage payments in-person and online from anywhere in the world.”
Annually, they claim to process over “50 billion transactions across 146 countries and 135 currencies.”
They aim to help customers become “efficient, secure and successful.”
Ravelin is a described as an AI-native enterprise fraud prevention platform, trusted to “protect against the threats posed by fraudsters.”
With a track record of delivering tangible results and expertise in fraud detection and prevention, Ravelin explained that it is committed to “helping businesses thrive in an increasingly complex digital landscape.”
