Cyprus
Covery.ai stands at the forefront of risk management in the Big Data and Fintech industries. Founded in 2016 and headquartered in Cyprus, this innovative platform has crafted a comprehensive suite of tools to aid online companies in thwarting fraud and minimizing risk, while simultaneously driving revenue growth. Offering solutions across diverse sectors like Dating, iGaming, and eCommerce, Covery.ai is versatile in its applications, accommodating more than 19 industries.
At the heart of Covery.ai's services is a customizable machine learning framework designed to enhance risk assessment strategies. The platform employs advanced algorithms to scrutinize behavioral patterns from registration phases to transaction and payout phases. This results in impressive outcomes: a 62% reduction in chargeback ratios and a 79% surge in recognizing fraudulent activities post-implementation.
What distinguishes Covery.ai in the competitive landscape is its ability to deliver bespoke rule engines that align with unique business objectives, supported by dynamic and static evaluations and scalability to handle various fraud scenarios. Although their last investment details remain undisclosed, their consistent technological advancements make Covery.ai a noteworthy contender for venture capitalists eyeing impactful investments in fintech and risk management realms.
