Fintech startup Kenbi raises $5 million in seed to legitimize credit card transactions

Fintech startup Kenbi raises $5 million in seed to legitimize credit card transactions

Feb 23, 2022

The Israeli company’s technology can help recuperate some of the $800 billion lost due to incorrectly declined payments

Kenbi, an Israeli fintech company that helps banks, card issues, and merchants approve transactions that may be denied in real-time, has announced that it has raised $5 million in Seed. The round was led by TLV Partners with participation from Entrée Capital, Izba, and R-Squared Ventures, and comes at the same time that the company has joined MasterCard and Enel’s FinSec Lab.

“The growth rate of e-commerce has increased 5x compared to the growth rate in brick-and-mortar stores in 2021, increasing the share of consumers experiencing unnecessary declines,” says Chanan Lavi, CEO of Kenbi. “Kenbi is changing the rules of traditional banking systems using AI technology that helps improve the payment approval rates for banks, card issuers, and merchants.”

 

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