Mangopay to Acquire Polish Anti-Fraud Tech Startup Nethone

Mangopay, a Luxembourg-based FinTech that specializes in payment solutions for platforms and marketplaces, announced it is set to acquire Polish anti-fraud technology firm Nethone for an undisclosed sum.

In a press release emailed to PYMNTS on Tuesday (Nov. 29), Mangopay said the deal will further enhance its anti-fraud solutions for marketplaces, which it said account for over two-thirds of global eCommerce transactions.

The release added that Nethone’s machine learning (ML)-powered solution can prevent over 95% of account takeovers and will better enable platforms to collect and analyze data, as well as to leverage behavioral analytics in their risk assessment and decision-making processes.

Nethone will continue to serve its existing clients while integrating its technology into the Mangopay platform.

“Every platform must have a deep understanding of its users in real time throughout their entire customer journey to reduce fraudulent activity,” Mangopay CEO Romain Mazeries said in the release. “We’re delighted to welcome Nethone to the group and offer a unique set of anti-fraud capabilities on top of our existing infrastructure.”

He added, “This is a key step in our mission to provide marketplaces and platforms with the best solution to drive their success.”

Nethone Co-founder and CEO Hubert Rachwalski von Rejchwald said the tie-up will help the company further refine its “Know Your User” technology “to be the best-in-class platform-specific solution.”

The latest acquisition comes off the back of an investment of 75 million euros in Mangopay by Advent International when it became a majority shareholder in the payment company in April.

At the time of the Advent acquisition, the investment firm’s director, Fabio Cali, called Mangopay “one of the leading players in payments for marketplaces and platforms, which is a strategic and highly attractive end market.”

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