Providence Strategic Growth has invested in NoFraud, a prevention software provider to e-commerce companies. The investment comes at a time when the risk of online transaction fraud has increased dramatically in the U.S.
NoFraud helps businesses eliminate card-not-present fraud and chargebacks using real-time technology so companies can fulfill valid orders quickly. Some of NoFraud’s include: Shopify, BigCommerce and Magento.
“The significant growth of e-commerce since the onset of Covid-19 has been met with heightened levels of fraudulent activity, underscoring the importance of our mission to arm merchants with the protection they need so they can focus on growing their businesses,” says Isaac Gurary, CEO and co-founder of NoFraud.