Gurugram based fraud analytics startup Thirdwatch has been acquired by Razorpay, a digital payment startup. The details of the deals have not been disclosed but it’s rumoured to be around $75 million.
Harshil Mathur, CEO of Razorpay said, ”Thirdwatch will help us offer artificial intelligence and machine learning-based detection tools to reduce cash on delivery frauds which we will be offering to e-commerce platforms that are our clients.”
Thirdwatch claims to reduce 80% losses incurred due to fraud by e-commerce portals. It will now be offered to 3.5 lakh websites using Razorpay as part of its product suite.