• Geico for e-commerce fraud.
• FICO for online transactions, guaranteeing merchants against fraud.

• Chargeback Guarantee: Riskified takes on the financial risk of chargebacks for approved orders, allowing merchants to ship confidently.
• Fraud Prevention Platform (Decisions Platform): An AI-driven system that analyzes online transactions in real-time to distinguish legitimate purchases from fraudulent ones.
• Policy Protect: A solution designed to prevent various forms of policy abuse, such as promotional code misuse or abusive returns, which are not traditional payment fraud.
• Account Protect: Safeguards customer accounts from takeover attempts and prevents abuse of loyalty programs and other account-related activities.
• Issuer Protect: Enhances collaboration between merchants and card issuers by sharing detailed transaction data, leading to higher approval rates for legitimate transactions.

Riskified (RSKD) sells primarily to other companies (B2B), specifically e-commerce merchants.

Based on their latest public filings (e.g., 2023 10-K), no single merchant represented 10% or more of Riskified's revenue for the years ended December 31, 2023, 2022, or 2021. This indicates that Riskified does not have a concentrated base of "major customers" in the traditional sense, but rather a diversified portfolio of clients.

Riskified serves a wide range of enterprise e-commerce merchants globally, providing AI-powered fraud prevention and chargeback guarantee solutions. Their customer base includes prominent brands across various retail verticals. While specific customer revenue contributions are not disclosed due to their diversified nature, examples of the types of companies that utilize Riskified's services (often featured in their marketing materials) include:

• Large online retailers
• Luxury brands
• Fashion and apparel companies
• Marketplaces
• Travel and ticketing providers

Some well-known companies that have been publicized as Riskified clients (without implying they are "major customers" in terms of revenue concentration) include brands like Wayfair (NYSE: W), Macy's (NYSE: M), SHEIN, StockX, and L'Oréal (EPA: OR).

Major Suppliers:

• Amazon Web Services (AWS) - Subsidiary of Amazon.com, Inc. (AMZN)
• Google Cloud Platform (GCP) - Part of Alphabet Inc. (GOOGL)

Eido Gal, CEO, Co-Founder, and Director

Eido Gal co-founded Riskified in 2012 and has since led the company's growth and innovation in the fraud prevention sector. He brings a background in technology and entrepreneurship to his role, spearheading key initiatives and maintaining a focus on customer-centric solutions. Prior to co-founding Riskified, he served as a researcher in the Israeli Defense Forces and worked as a fraud analyst at Fraud Science Corporation, which was acquired by PayPal in 2008. He continued his career at PayPal in the risk and automation departments and later worked in the analytics department at Bill Guard.

Aglika Dotcheva, CFO

Aglika Dotcheva is responsible for managing Riskified's finance team and spearheading key financial projects that contribute to the company's market position. Her commitment to financial excellence and industry leadership is further demonstrated through her involvement in initiatives such as The F Suite and ARK's Advisory Board.

Assaf Feldman, CTO, Co-Founder, and Director

Assaf Feldman co-founded Riskified in 2012 and is responsible for overseeing the company's technological advancements and ensuring the robustness of its fraud prevention systems. He possesses expertise in algorithm development and innovative tech solutions. His professional journey includes significant roles at various tech companies such as BillGuard and Kinetic Global Markets, where he honed his skills in research technologies and algorithm engineering.

Ravi Kumaraswami, President of Worldwide Field Operations

Ravi Kumaraswami leads Riskified's global sales and customer success teams, leveraging his expertise to drive revenue growth and ensure customer satisfaction. Before joining Riskified, he held significant leadership positions, including serving as CEO of Crownpeak Technologies, where he contributed to doubling revenue through strategic expansion and acquisition. He also served as Chief Revenue Officer at Lithium Technologies and Senior Vice President of Global Sales at SAP Ariba, where he oversaw substantial revenue growth.

Naama Ofek Arad, COO

Naama Ofek Arad is responsible for ensuring seamless operational execution within Riskified.

The increasing sophistication and widespread adoption of integrated fraud prevention tools offered by major payment processing platforms (such as Stripe Radar, Adyen RevenueProtect) and e-commerce platforms (like Shopify Protect). These solutions provide merchants with native, often bundled, fraud detection and chargeback protection directly within their existing payment and e-commerce infrastructure, potentially reducing the need for standalone, specialized fraud prevention solutions like Riskified.

Riskified (RSKD) operates in the e-commerce fraud prevention and detection technology solutions industry. Their main products and services revolve around providing an AI-powered fraud solution platform that helps online merchants prevent fraud and chargebacks, ultimately assisting in approving orders that would otherwise be declined.

The addressable market for Riskified's core services is the e-commerce fraud detection and prevention solutions market. This global market was estimated at $33 billion in 2024. It is projected to grow significantly, reaching an estimated $90 billion globally by 2030, representing a compound annual growth rate (CAGR) of 18.7% from 2025 to 2030.

More broadly, Riskified's services address a challenge within the much larger global e-commerce industry, which was valued at approximately $5.8 trillion as of 2023.

Riskified (RSKD) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Expansion to New Markets and Geographies: Riskified has demonstrated strong international momentum, with significant year-over-year growth in regions such as APAC (40%), EMEA (23%), and Other Americas (16%) in Q2 2025. The company is actively pursuing international expansion in the APAC and EMEA regions, with a notable portion of new Chargeback Guarantee customer wins in Q1 2025 originating outside the United States.
2. Launch and Growth of New Products and Services: Revenue generated from products beyond Riskified's core Chargeback Guarantee saw substantial growth of approximately 190% year-over-year in Q1 2025. The company is investing in new product expansion, including solutions like Policy Protect, Adaptive Checkout, and a new refund-abuse model. Adaptive Checkout, launched in March 2025, aims to reduce false declines and boost conversion rates for online merchants by dynamically adjusting the checkout process based on transaction risk. Additionally, the expanded Dispute Resolve platform streamlines chargeback operations and aims to significantly improve win rates for merchants.
3. New Customer Acquisition and Upselling to Existing Customers: The acquisition of new merchants and increased upsell activity with existing clients are consistently cited as primary drivers of Gross Merchandise Volume (GMV) and revenue growth. Riskified's strategy involves successfully onboarding new merchants across various verticals and geographies and then expanding its offerings to these clients.
4. Expansion into New Verticals: Riskified is experiencing exceptional growth in emerging sectors, particularly in Money Transfer & Payments, which saw approximately 90% year-over-year growth in both Q1 and Q2 2025. Other strong performing verticals include Tickets and Travel (15% year-over-year growth in Q2 2025) and Fashion and Luxury (10% year-over-year growth in Q2 2025). The company is also continuing to penetrate newer areas such as the "Food" category.
5. Advancements in AI and Machine Learning: Riskified's foundational strength lies in its AI-powered fraud solution platform, which enables merchants to approve legitimate orders that might otherwise be declined, thereby reducing fraud costs and enhancing customer experience. Ongoing improvements in its core machine learning models are contributing to higher gross margins and overall growth. The company plans to increase its research and development capacity by 20% in 2025 to further drive innovation in its AI and machine learning capabilities.

Share Repurchases

• Riskified authorized a new share repurchase program of $75 million on August 18, 2025.
• An additional $75 million was authorized for share repurchases by the Board on November 13, 2024.
• Riskified repurchased $141 million worth of shares in 2024.

Share Issuance

• Riskified completed its Initial Public Offering (IPO) on August 2, 2021, issuing 20,125,000 Class A ordinary shares at a price of $21.00 per share.
• The gross proceeds to Riskified from the IPO were approximately $418 million.
• Annual stock-based compensation, which effectively issues shares, was $57.83 million in 2024, $62.41 million in 2023, and $67.47 million in 2022.

Inbound Investments

• Riskified closed a Series E funding round of $3.37 million on March 4, 2021.
• The company's IPO in August 2021 raised approximately $418 million from public investors.

Capital Expenditures

• Capital expenditures for Riskified in the last 12 months were -$695,000 (negative, indicating a net inflow or very low investment).