Squire Patton Boggs has advised Spanish company Revelock, a pioneer in behavioural biometric based online fraud prevention, on its acquisition by Feedzai, the leading cloud-based financial risk management platform. The purchase price is confidential.
The team advising Revelock and its shareholders on the multijurisdictional sale was led by partner Ramón Castilla and senior associate Antonio Fernández-Rodríguez in Madrid.
Spanish company Revelock (formerly known as Buguroo), founded by Pablo de la Riva, is a pioneer in the prevention of online fraud in the financial sector. Feedzai is a market leader in fighting financial crime with artificial intelligence (AI). Founded in 2011, Feedzai has more than 500 employees and 10 global offices, including Lisbon, San Mateo in California, London, and Hong Kong. It uses artificial intelligence and a range of high-tech tools to combat fraud in Omni channel commerce and money laundering. Earlier this year it announced a US$200 million Series D investment round led by leading global investment firm KKR, with participation from existing investors Sapphire Ventures and Citi Ventures.
The addition of Revelock’s technologies advances Feedzai’s vision of creating the most comprehensive cloud-based, AI-powered financial risk management platform. The integrated platform with native, integrated behavioral biometrics enables financial institutions and merchants across the globe to detect and prevent financial crime, including new account fraud, account takeovers, transaction fraud, money laundering schemes, and direct cyber threats from malware and phishing.