#Cybersecurity #Ireland #Dublin #ZeroRisk #Payment Providers

ZeroRisk Secures $10 Million for Global Cybersecurity Expansion

ZeroRisk, a rapidly growing cybersecurity firm from Ireland, has announced a significant milestone in its mission to protect payment providers and their merchants from cyber threats. Recently closing a Series A funding round, the company successfully raised $10 million. This capital will not only support further development of its innovative platform but also facilitate its expansion into international markets.

Founded in 2023, ZeroRisk is dedicated to providing payment providers with a comprehensive view of cyber risks associated with their merchant portfolios. This cutting-edge platform integrates various vital services such as risk monitoring, compliance measures, educational resources, and guided remediation, creating a powerful tool for both payment providers and merchants. Merchants, in particular, benefit from clear guidance on the specific risks their businesses face, as well as actionable steps they can take to effectively address those risks.

The latest funding round was spearheaded by MiddleGame Ventures, alongside participation from returning investor Elkstone. With these investments, ZeroRisk plans to bolster its capability to deploy its cybersecurity services across large merchant portfolios, transforming how payment processors manage their compliance responsibilities. Currently, ZeroRisk caters to major payment businesses, including Bank of America, Global Payments, Checkout.com, and Trust Payments, helping them navigate the evolving landscape of cybersecurity challenges.

Gary Nolan, co-founder and CEO of ZeroRisk, emphasized the urgent need for enhanced risk management, stating, "Payment companies have spent years trying to manage merchant risk through annual compliance exercises. That is no longer enough. Their customers are dealing with scams, credential theft, website vulnerabilities, and attacks on devices every day. Our job is to give payment providers visibility across the portfolio and give merchants a clear route to action." This approach not only aims to protect merchants but also creates revenue opportunities for payment processors as they extend valuable services through compliance frameworks.

ZeroRisk sees itself leading the way in addressing merchant cybersecurity, especially as the risks have evolved beyond traditional compliance measures. The company's strategy involves empowering payment providers to help their clients mitigate risks actively rather than merely fulfilling annual compliance requirements. As the cyber landscape becomes ever more complex, the need for a diverse and proactive approach to risk management has never been more critical.

The newly acquired funding will also allow ZeroRisk to expand its operational team and enhance the platform itself, further supporting payment providers committed to developing next-generation merchant cybersecurity programs. Currently, ZeroRisk has established a presence in both Ireland and the United States, with offices located in Dublin and Atlanta.

Patrick Pinschmidt, Co-Managing Partner at MiddleGame Ventures, shared insight into why they chose to invest, asserting, "The ZeroRisk team brings a unique combination of commercial and technical expertise, reinforced by working hand-in-hand with leading payment providers." He expressed excitement about the partnership and the company's potential to innovate within the payment processing sector.

Niall McEvoy, Head of Venture at Elkstone, also acknowledged the impressive development of ZeroRisk in a relatively short period. He noted that their commercial progress and ambitious objectives align with investor confidence, reinforcing the potential for transformational change across the merchant cybersecurity landscape.

As ZeroRisk embarks on this exciting new chapter, the cybersecurity industry watches closely. With its promising technology and strategic vision, ZeroRisk aims to set new standards in safeguarding merchants within the payment processing ecosystem.