ZeroRisk is on a mission to help financial institutions reduce cyber risks and streamline compliance.
Dublin software business ZeroRisk has raised $4m (€3.8m) in a funding round led by Elkstone.
ZeroRisk will use the funding to expand its US presence where it serves a number of Tier 1 acquiring banks.
“This funding allows us to scale globally and continue delivering innovative solutions to our customers”
Founded in 2023 to redefine compliance and cybersecurity, ZeroRisk transforms end-to-end merchant management for leading financial institutions across the globe.
A new standard for merchant risk management
Its technology streamlines payment card industry compliance and delivers real-time data insights for acquiring banks, payment service providers, digital sellers, and other financial institutions to manage complex portfolios.
“ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, expanding beyond cybersecurity and compliance to address broader merchant risks and other critical compliance standards,” said Gary Nolan, co-founder and CEO of ZeroRisk.
“This funding allows us to scale globally and continue delivering innovative solutions to our customers.”
ZeroRisk’s Merchant Management platform is a unified, cloud-native solution that turns complex processes into one scalable system.
The payment card industry is grappling with increasingly sophisticated cyber threats and mounting regulatory demands. The majority (80%) of global companies fail to meet PCI compliance standards, particularly in the SMB space, underscoring the critical need for enhanced security measures and strict adherence to evolving regulations.
ZeroRisk will use the new financing to expand its operations globally, particularly in the U.S. market. The company is hiring for 40 roles across a variety of functions, including data science, user experience, product, engineering, and sales and marketing.
“ZeroRisk is uniquely positioned to help acquiring banks manage the complexities of merchant portfolios in an evolving cyber risk landscape,” said Niall McEvoy, head of Venture at Elkstone.
“Their scalable solutions and innovative use of AI are setting a new standard for risk management in the payment ecosystem, and we’re proud to support their ambitious plans for growth.”
Main image at top: Francesco Consiglio, CTO and co-founder, ZeroRisk; Gary Nolan, CEO and co-founder of ZeroRisk; Paul McEvoy, head of Venture, Elkstone; and ZeroRisk co-founder Marco Borza
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