Dublin-based ZeroRisk has raised $4 million (€3.8 million) in funding to help fuel its US expansion.
The company, which offers merchant risk and compliance management software, works with a number of tier-one banks in the US. It plans to use the funding to expand its workforce there, and is currently recruiting for 40 roles that include data science, user experience, product, engineering and sales and marketing.
“ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, expanding beyond cybersecurity and compliance to address broader merchant risks and other critical compliance standards,” said Gary Nolan, co-founder and chief executive of ZeroRisk.
“This funding allows us to scale globally and continue delivering innovative solutions to our customers.”
Founded in 2023, ZeroRisk aims to transform end-to-end merchant management for financial institutions, payment service providers and digital sellers around the world. The company’s platform helps small and mid-sized businesses deal with cyber threats and regulatory demands, through a cloud-native solution that provides enterprise-grade security solutions using advanced risk intelligence and automation, streamlines payment card industry compliance and offers real-time data insights. This helps organisations identify vulnerabilities and cyber risks at an earlier stage while also enhancing performance and improving decision-making.
The new funding round was led by Irish-based Elkstone, which is best known for its backing of start-ups such as Flipdish, LetsGetChecked, Manna and Soapbox Labs.
“ZeroRisk is uniquely positioned to help acquiring banks manage the complexities of merchant portfolios in an evolving cyber risk landscape,” said Niall McEvoy, head of venture at Elkstone. “Their scalable solutions and innovative use of AI are setting a new standard for risk management in the payment ecosystem, and we’re proud to support their ambitious plans for growth.”
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