Windare Ventures, Barclays, and other institutional investors back Heka’s AI engine as financial institutions seek stronger defences against synthetic fraud and identity manipulation. The investors chipped in a total of $14 million. Funds will assist with U.S. expansion.
Consumer fraud is at an all-time high. Last year, losses hit $12.5 billion – a 38% jump year-over-year. The rise is fueled by burner behavior, synthetic profiles, and AI-generated content. But the tools meant to stop it, from credit bureau data to velocity models, miss what’s happening online. This is what Heka addresses.
Heka analyzes publicly available web data to help financial institutions better understand their customer, beyond what static files can show. Its proprietary AI engine assembles digital profiles that surface alias use, reputational exposure, and behavioral anomalies. This helps financial institutions detect synthetic activity, connect with real customers, and act faster with confidence.
At the core of Heka’s web intelligence engine is an analyst-grade AI agent. Unlike legacy tools that rely on static files, scores, or blacklists, Heka’s AI processes large volumes of web data to produce structured outputs like fraud indicators, updated contact details, and contextual risk signals. In one recent deployment with a global payment processor, Heka said its AI engine caught 65% of account takeover losses without disrupting healthy user activity.
According to the company, the technology is already embedded in the workflows of leading banks, payment processors, and pension funds. Clients use it to support critical decisions from fraud mitigation to account management and recovery.
“Heka’s offering stood out for its ability to address a critical need in financial services – helping institutions make faster, smarter decisions using trustworthy external data. We’re proud to support their continued growth as they scale in the U.S.,” said Kester Keating, head of US principal investments at Barclays.
Ori Ashkenazi, managing partner at Windare Ventures, added, “Identity isn’t a fixed file anymore. It’s a stream of behavior. Heka does what most AI can’t: it works in the wild, delivering signals banks can use seamlessly in workflows.”
Heka was founded by Rafael Berber, former global head of equity trading at Merrill Lynch; Ishay Horowitz, a senior officer in the Israeli intelligence community; and Idan Bar-Dov, a Fintech and high-tech lawyer. The broader team includes intel analysts, data scientists, and domain experts in fraud, credit, and compliance.
“The credit bureaus were built for another era. Today, both consumers and risk live online. Heka’s mission is to be the default source of truth for this new digital reality – always-on, accurate, and explainable,” said Bar-Dov.