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February 19, 2019

Payments firm NsKnox secures $15m funding

Payments startup nsKnox has raised $15m in a Series A funding round led by Viola Ventures and Microsoft’s venture fund M12.

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  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
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Viola and M12 were joined by Israel Discount Bank’s investment unit Discount Capital, as well as former seed investors.

nsKnox was established in 2016 by ex-CyberArk CEO Alon Cohen. It has branches in Boston, Massachusetts, and Tel Aviv, Israel.

The real-time corporate payment protection platform of the business is designed to combat cyber-fraud and data manipulation.

nsKnox plans to use the new capital to enhance its payment platform and bolster customer base.

M12 principal Lior Litwak said: “nsKnox’s corporate payment solution solves a critical business issue at scale, saving businesses the time, money and headache that result from fraudulent threats.”

In announcing the latest development, the payments firm cited a report by the Association for Financial Professionals.

The report found 78% of companies affected by payment fraud in 2017.

nsKnox CEO Nir Tenzer said: “nsKnox is bringing corporate payment protection into the digital age, arming companies in the battle against payment fraud, manipulation and cybercrime.

“The backing of M12 and Viola Ventures is a tremendous vote of confidence in our ability to protect organisations worldwide and help them tackle this incredibly costly issue.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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