Global: ThetaRay Secures $57 Million in Private Funding Round, Led by Portage

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ThetaRay, based in Israel, has announced that it successfully raised $57 million in a private funding round. The round was spearheaded by the global fintech platform, Portage.

ThetaRay specializes in utilizing artificial intelligence to detect and identify financial cyber threats such as money laundering. This advanced technology empowers users to take proactive measures against suspicious transactions.

The recent funding injection will play a pivotal role in expediting the company’s global expansion strategy. It will enable ThetaRay to leverage the strong market demand, particularly from banks and fintech companies looking to replace outdated tools with cutting-edge financial crime detection solutions.

Peter Reynolds, CEO of ThetaRay, emphasized the existing challenges in global payment infrastructure, stating that it frequently struggles to distinguish between legitimate transactions and those conducted by malicious actors involved in illicit financial activities.

In addition to Portage, other prominent participants in the funding round include notable venture capital funds like JVP, which is one of ThetaRay’s largest investors, as well as OurCrowd, among others.

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