#Cybersecurity #Ireland #Dublin #ZeroRisk #Payment Providers

ZeroRisk Secures $10 Million to Enhance Cybersecurity Solutions

ZeroRisk, a burgeoning Irish cybersecurity firm, has successfully secured $10 million in a Series A funding round aimed at scaling its innovative platform tailored for payment providers. Founded in 2023, ZeroRisk offers comprehensive tools that allow payment processors to manage and mitigate cybersecurity risks across their merchant portfolios effectively. With backing from MiddleGame Ventures and existing investor Elkstone, this funding is set to accelerate ZeroRisk's global expansion, product development, and operational capacities necessary for servicing large merchant portfolios.

The cybersecurity landscape for merchants today is evolving rapidly, with threats becoming increasingly sophisticated. Traditionally, merchant cybersecurity programs have emphasized annual compliance measures. However, the growing risks that small businesses face today extend well beyond compliance—they encompass a range of threats, including fraud attempts, stolen credentials, website vulnerabilities, attacks on connected devices, and the critical ability to recover from incidents. ZeroRisk aims to bridge this gap by offering payment processors the tools they need to convert compliance obligations into revenue opportunities, thus providing merchants with valuable service enhancements.

Gary Nolan, co-founder and CEO of ZeroRisk, commented, "For years, payment providers have attempted to manage merchant risk through annual compliance reviews. This approach is no longer sufficient as their clients are confronted daily with risks such as fraud, credential theft, website vulnerabilities, and device attacks. Our mission is to give payment providers a comprehensive overview of their entire merchant portfolio and show merchants a clear path to action."

The recent funding round will enable ZeroRisk to expand its team, further develop its platform, and support payment processors wishing to adopt next-generation cybersecurity programs for merchants. Currently operating in both Ireland and the United States, the company has established offices in Dublin, Atlanta, and Longford, further solidifying its presence in key markets.

MiddleGame Ventures, led by Co-Managing Partner Patrick Pinschmidt, expressed confidence in ZeroRisk's future. He remarked, "The ZeroRisk team uniquely combines commercial and technical expertise, amplified by their close collaboration with leading payment providers. Their firsthand experience of the core industry problems allows them to develop technology that transforms a critical workflow in the financial services sector, making it more intuitive and seamless for both payment providers and merchants. We are extremely excited to partner with Gary and the team as they set a new standard for this key function."

Niall McEvoy, Head of Venture at Elkstone, added, "Elkstone first supported ZeroRisk during its seed phase, when Gary and the team presented their compelling vision for the evolution of cybersecurity and compliance for merchants. The business progress made in a short time is impressive, and this Series A funding round further reinforces investor confidence that ZeroRisk can effect transformative change in this sector on a global scale."

ZeroRisk's platform is utilized by acquirers, payment processors, payment facilitators, and financial institutions to monitor risks in their merchant portfolios. The company is focused on helping merchants take concrete steps to protect their businesses from the various cyber threats they face today. As the world of digital payments continues to expand at an unprecedented rate, companies like ZeroRisk are crucial in ensuring that both payment providers and merchants navigate the complexities of cybersecurity with confidence.

In conclusion, ZeroRisk is well-positioned for significant growth and innovation in the cybersecurity domain, addressing critical gaps in the market and establishing itself as a leader in risk orchestration for payment processing. As cyber threats continue to evolve, ZeroRisk's proactive approach will undoubtedly play a pivotal role in enhancing the security landscape for merchants globally.