Israeli fintech company ThetaRay raised $57 million

The Israeli fintech company ThetaRay raised $57 million led by the Portage Fund and with the participation of the JVP Fund, the company's largest shareholder, and other investors. The company that develops solutions to prevent financial crime will use the fundraising funds for continued growth.
ThetaRay offers a cloud-based solution that enables fast and accurate monitoring of financial transactions. ThetaRay's clients include some of the world's leading financial institutions, including Santander, Travelex, Mashreq Bank, MFS Africa and ClearBank. The company stated that the number of the company's customers has grown 10-fold in the last two years, and the revenue from existing customers has increased at a rate exceeding 180%, which has led to a significant growth in the company's annual revenue, which it did not disclose.
ThetaRay, whose offices are in Tel Aviv, New York, London, Madrid and Dubai, recently appointed as CEO Peter Reynolds, former Chief Revenue Officer at ThetaRay, who replaced Mark Gazit, who serves as a senior consultant to the company. The company stated that the value Its funding in the current fundraising increased significantly compared to the last fundraising. So far, the company has raised 150 million dollars, including the current fundraising.
According to Aral Margalit, founder and chairman of the JVP Foundation, who also serves as the company's chairman: "ThetaRay was founded in Jerusalem with big ideas. It is a company that brings a new topic and a new idea to a technological solution for securing international payments, which manages to block the bad and allow the good to work in a much better way At the international level. The company has created a new category that brings to the world the next generation after Swift, which will enable international money transfers. Just as the leaders of financial crime use AI, banks and financial organizations also use AI in a completely different way, thanks in part to the capabilities that ThetaRay enables ".