The startup offers a payment fraud detection platform that monitors online transactions post-checkout, utilizing real-time data analysis to enhance transaction transparency. By identifying fraudulent activities before the assumption of risk, the platform helps online merchants reduce chargebacks and increase conversion rates, fostering greater trust in their payment processes.
Funding
$600K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Online merchants face challenges in accurately verifying transactions before payment, leading to false declines, customer churn, and exposure to sophisticated fraud types like friendly fraud, identity theft, and policy abuse. Traditional fraud solutions relying solely on pre-checkout data often miss valuable post-payment signals, resulting in significant business losses.
Solution
FUGU offers a multi-tier fraud protection platform that analyzes transactions throughout the entire lifecycle, both before and after checkout, to help merchants safely accept more payments. By decoupling payment acceptance from payment verification, FUGU captures unique data points, monitors customer behavior, and automates KYC verifications to identify complex fraud types and minimize false declines. The platform's continuous risk scoring adjusts payment risk based on subsequent payment activity, protecting merchants from sudden fraudulent activity. FUGU also provides a chargeback guarantee, automatic evidence collection, and hybrid scoring tailored to each merchant's needs.
Target Audience
FUGU primarily targets online merchants and payment service providers (PSPs) seeking to reduce fraud, minimize false declines, and increase revenue through advanced payment verification and risk management solutions.
Features
- Initial risk profiling using session monitoring, device fingerprinting, IP/geolocation, and web interaction analysis
- Payment monitoring and KYC automation to align each payment with an appropriate risk scenario
- Risk scoring based on customer's extended interaction trail, providing alerts for fraudulent transactions before shipment
- Chargeback management with complete interaction trail as evidence for dispute resolution
- Continuous risk scoring that adjusts a payment risk score based on related payment activity
- Graph detection analytics to adjust risk scores for entire clusters of related payments
- Post-payment monitoring to identify policy abuses like return fraud and wardrobing
- Integrations with Shopify, WooCommerce, Vtex, and Magento e-commerce platforms