Payment infrastructure for platforms and marketplaces provider Mangopay is acquiring Polish fraud detection and prevention company Nethone. By folding Nethone’s expertise into their own offer, Mangopay aims to provide anti-fraud solutions specifically designed for platform businesses. The terms of the deal remain undisclosed.
With the platform economy grossing $3.23 trillion in sales in 2021, these marketplaces account for over two-thirds of e-commerce transactions. It also makes them a prime target for fraud. And while Mangopay offers its clients a host of payment technologies and associated services, with the addition of Nethone, the France-founded company is ensuring that it has best-in-class anti-fraud security in place.
“Every platform must have a deep understanding of its users in real-time throughout their entire customer journey to reduce fraud activity. We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure,” explained Mangopay CEO Romain Mazeries. “This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”
Nethone, a service trusted by customers including Farfetch and ING, will remain a separate company and will continue to serve online merchants and financial institutions, with its CEO and co-founder Hubert Rachwalski joining Mangopay’s executive committee.