ZeroRisk Raises $10 Mn to Strengthen Merchant Cybersecurity for Payment Providers

The funding round was led by MiddleGame Ventures, with participation from existing investor Elkstone.

ZeroRisk will use the new funding to expand globally, improve its product, and increase its operational capacity. This will help the company deploy its platform across large merchant portfolios.

Speaking today, Gary Nolan, co-founder and CEO of ZeroRisk, said: "Payment companies have spent years trying to manage merchant risk through annual compliance exercises. That is no longer enough. Their customers are dealing with scams, credential theft, website vulnerabilities and attacks on devices every day. Our job is to give payment providers visibility across the portfolio and give merchants a clear route to action."

"ZeroRisk has moved from proving the product to deploying it at scale. This investment will allow us to expand the team, deepen the platform and support the payment providers that have chosen to build their next-generation of merchant cyber programmes with us."

Patrick Pinschmidt, Co-Managing Partner at MiddleGame Ventures, added: "The ZeroRisk team brings a unique combination of commercial and technical expertise, reinforced by working hand-in-hand with leading payment providers. As former operators in the space, they understand the fundamental pain points firsthand and have built technology that transforms a critical financial services workflow, making it more intuitive and seamless for payment providers and merchants alike. We're thrilled to be partnering with Gary and the team as they build the new standard for this critical function."

Niall McEvoy, Head of Venture at Elkstone, said: "Elkstone first backed ZeroRisk at seed stage when Gary and the team presented their compelling vision on where the merchant cybersecurity and compliance space was heading. The commercial progress in a short period of time has been impressive, and this Series A funding round further validates investor confidence that ZeroRisk can deliver transformational change in the sector globally. We are pleased to deepen our support alongside new investor MiddleGame Ventures."

ZeroRisk provides cybersecurity and compliance technology for the payments and financial services industry. Its platform helps acquirers, payment processors, PayFacs, and financial institutions monitor cyber risks across their merchant networks.

The platform also helps merchants take practical steps to protect their businesses from cyber threats. ZeroRisk was founded in Ireland in 2023 and serves customers across Europe and North America.

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