FUGU

What FUGU does

FUGU (legally Fugu Risk Ltd.) is an Israeli fraud-prevention technology company founded in 2018 and headquartered in Tel Aviv. The company provides a post-payment continuous risk monitoring platform for online merchants and payment service providers (PSPs), analyzing transactions throughout the entire payment lifecycle—from order creation through post-checkout and pre-shipment—rather than relying solely on point-of-sale decisions. With a stated installed base of 400+ stores and named customers across fashion (JD Sports, LØCI, Ed Hardy, One Project), cannabis/wellness (Secret Nature), gift cards (Wunschgutschein), health tech (Theradome), and Mexican retail (Pidele a Pepe), FUGU targets the structural problem that approximately 80% of declined transactions are legitimate and that fraud types such as friendly fraud and policy abuse are difficult to detect at checkout.

The platform's core architecture is built on decoupling payment acceptance from payment verification. FUGU's Multi-Tier Fraud Protection combines four modules: Initial Risk Profiling (device fingerprinting, IP/geolocation, session behavior), Payment Monitoring with KYC Automation (signatures, selfie ID, and credit card scans triggered only for risky transactions), continuous Risk Scoring with pre-shipment alerts, and Chargeback Management with automated evidence collection and dispute representment. Graph detection analytics identify fraud rings and policy abuse networks across related accounts. The company also offers a 100% Chargeback Guarantee where FUGU assumes liability for qualifying transactions, and a graduated risk-management platform for PSP partners. Distribution occurs through native app store integrations with Shopify, WooCommerce, VTEX, and Magento, custom API integrations for enterprise merchants, and channel partnerships with PSPs including a registered Mastercard partner program.

FUGU monetizes through a freemium Free Tier (limited functionality for lead generation), a Pro Tier subscription with multi-user access and unlimited evidence recording, proposal-based enterprise pricing, outcome-based fees for chargeback guarantee services, and managed services for PSP partners. The company has recently aligned its product and content roadmap with major card-network regulatory shifts—Visa's VAMP (effective October 2025, with 1.5% thresholds from April 2026) and Mastercard's MMP (effective January 1, 2026)—and has published analysis positioning its continuous verification architecture as essential for the emerging agentic commerce paradigm. Only Nimrod Shory (CTO) is identified in the available management team data, and the company discloses 1-10 employees.

Name

FUGU

Legal name

Fugu Risk Ltd.

Website

https://fugu-it.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

FUGU (Fugu Risk Ltd.) provides post-payment continuous fraud monitoring and a chargeback guarantee for e-commerce merchants and PSPs, decoupling payment acceptance from verification through multi-tier behavioral analytics and graph detection across the transaction lifecycle.

Ownership category

akta.pro rank

Product category

Payment Fraud Prevention Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

Identity Verification (IDV) & Document Verification (FSAMALAE)

akta.pro secondary industries

Fraud Detection & Transaction Monitoring (FSAMALAA), Chargeback & Dispute Management (FSAMALAC), Risk Scoring, Decisioning & Orchestration (FSAMALAB)

Keywords

• Payment fraud prevention
• Chargeback management
• Post-payment monitoring
• E-commerce risk scoring
• Transaction verification

Headquarters

HQ city

Tel Aviv

HQ country

Israel

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription - Pro Tier Services: Pro Tier subscription services with multi-user access, unlimited evidence/payment representation recording and analysis, and full branding capabilities. Fees are defined in Fugu's price list and paid according to purchase order terms. This is the primary revenue stream for enterprise and mid-market merchants.
2. Free Tier - Lead Generation: Free Tier services providing limited functionality (single user, 1000 evidence/payment representations per month) at no charge. Serves as a lead generation and onboarding mechanism to convert merchants to paid Pro Tier services.
3. Chargeback Guarantee - Liability Shift: Chargeback guarantee service where FUGU takes ownership of payment risk operations. Merchants select which transaction types to guarantee, and FUGU provides immediate reimbursement plus dispute handling. Revenue generated through risk assumption and fee per guaranteed transaction.
4. PSP Risk Management Platform: Gradual risk mitigation platform for Payment Service Providers. PSPs can deploy FUGU functionality for internal needs or resell to clients. Revenue generated through platform licensing and potential revenue sharing with channel partners.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

FUGU offers a post-payment continuous risk monitoring SaaS platform for e-commerce merchants and PSPs. The platform decouples payment acceptance from verification, analyzing transactions across four lifecycle stages (initial risk profiling, payment monitoring with KYC automation, pre-shipment risk scoring, and chargeback management). Deliverables include a 100% chargeback guarantee, automated evidence collection for disputes, and behavioral graph analytics that detect fraud rings and policy abuse networks.

Product overview

FUGU offers a unified post-payment fraud prevention platform designed for online merchants and payment service providers. The core Multi-tier Fraud Protection system decouples payment acceptance from verification, enabling merchants to safely accept more transactions. The platform comprises four integrated modules: Risk Scoring (continuous behavioral analysis and risk reassessment), Chargeback Guarantee (hybrid liability service with immediate reimbursement), FUGU for PSPs (gradual risk mitigation for payment providers), and Onboarding (automated KYC and document verification). The architecture processes transactions through four stages: Initial Risk Profiling at order creation, Payment Monitoring with KYC Automation, Pre-shipment Risk Scoring with alerts, and Chargeback Management with evidence representment. FUGU differentiates through continuous post-payment monitoring that captures behavioral signals, engagement patterns, and customer cooperation metrics throughout the transaction lifecycle rather than relying solely on checkout-time decisions.

Differentiator

Problem solved

Functional benefit

Brands

• FUGU Insider: Company blog and content hub covering fraud prevention insights, industry trends, and company news
• VAMP
• FUGU Articles

Products and services

• Multi-tier Fraud Protection 360-degree self-learning fraud prevention strategy monitoring transactions at four lifecycle stages (initial risk profiling, payment monitoring with KYC automation, pre-shipment risk scoring alerts, and chargeback management with evidence representment) for online merchants and PSPs.
• Risk Scoring Dynamic risk assessment module analyzing customer behavior throughout the transaction lifecycle, including initial profiling, continuous monitoring with sensors and verifications, and behavioral factors such as stability, cooperation, and sentiment.
• Chargeback Guarantee Outcome-based chargeback liability service providing immediate reimbursement, automated evidence collection, and dispute representment for guaranteed transactions selected by the merchant.
• FUGU for PSPs (Payment Service Providers) Risk management platform enabling Payment Service Providers to leverage FUGU's fraud prevention capabilities for internal needs or as part of their standard merchant offering, with revenue-sharing and licensing options.
• Onboarding Onboarding automation covering user verification, document collection and management, and initial risk analysis from day one of integration, including signatures, selfie IDs, and credit card scans triggered for risky transactions.

Quantifiable outcome

• 51% of friendly fraud blocked through continuous post-payment monitoring
• +6 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability7 records

Feature7 records

Partnerships

Five partnerships are on record, tiered core.

• MastercardcoreStrategic or Co-development PartnerFUGU is a Mastercard partner with an incentive program available for adapters. The partnership enables FUGU to offer enhanced fraud prevention capabilities integrated with Mastercard's network and provides marketing and incentive programs for merchants implementing the solution.
• ShopifycoreTechnology or IntegrationNative integration partnership through Shopify App Store listing. FUGU offers a dedicated app ('FUGU Sensing Post-Payment Risk') that Shopify merchants can install directly from the Shopify App Store for immediate fraud protection activation.
• WooCommercecoreTechnology or IntegrationWordPress plugin integration for WooCommerce-powered online stores. FUGU provides a dedicated plugin enabling WooCommerce merchants to implement multi-tier fraud protection.
• VTEXcoreTechnology or IntegrationNative integration for VTEX e-commerce and omnichannel platform, enabling VTEX merchants to access FUGU's fraud prevention capabilities.
• MagentocoreTechnology or IntegrationIntegration for Magento flexible open-source e-commerce platform, targeting merchants with custom or complex e-commerce requirements to implement FUGU's fraud protection.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Forter: Forter provides real-time e-commerce fraud prevention with a Decision-as-a-Service model and Trusted Identity graph. It competes directly with FUGU's continuous risk scoring and graph detection analytics capabilities, serving large enterprise merchants.
• Signifyd: Signifyd provides an e-commerce chargeback guarantee and fraud prevention platform identical to FUGU's core offering. Both companies leverage behavioral data and machine learning to approve more transactions while assuming chargeback liability for merchants—this is the closest direct competitor with the same business model.
• Sift: Sift offers a digital trust and safety platform including payment fraud, content abuse, and account takeover prevention. It overlaps with FUGU's anomaly detection, KYC automation, and machine-learning risk scoring capabilities for e-commerce merchants.
• Riskified: Riskified is a publicly-traded e-commerce fraud prevention company offering chargeback guarantee, decline recovery, and policy abuse prevention. It operates the exact same outcome-based model as FUGU's Chargeback Guarantee, targeting mid-market and enterprise merchants on Shopify and other platforms.
• NoFraud: NoFraud offers e-commerce fraud prevention with chargeback guarantee and Shopify/WooCommerce integration. It is a smaller direct competitor serving the same SMB and mid-market merchant segments with similar outcome-based pricing.
• ClearSale: ClearSale provides chargeback protection and fraud prevention for e-commerce merchants, including a chargeback guarantee model like FUGU. It has a long-standing presence in Latin America and Europe—regions where FUGU has customers like Pidele a Pepe.

Emerging players

• Ravelin: Ravelin provides fraud prevention and chargeback protection for online merchants using graph networks and machine learning. It overlaps with FUGU's graph detection analytics and continuous risk monitoring, though it is more focused on PSD2/SCA compliance in European markets.
• SEON: SEON provides digital fraud prevention through email, phone, and IP intelligence with a self-serve model. It is an emerging competitor addressing similar fraud signals to FUGU's continuous post-payment monitoring but with lighter integration and SMB-focused positioning.

Broad incumbents

• Stripe Radar: Stripe Radar is the built-in fraud prevention layer for Shopify's primary payment processor, using transaction data from Stripe's network. It competes with FUGU's pre-checkout risk profiling and shares overlapping merchant relationships, though it operates inside a broader payments platform.
• Kount (Equifax): Kount, owned by Equifax, provides an enterprise fraud prevention platform with identity verification, device fingerprinting, and chargeback management. It is a broader incumbent in fraud prevention with overlap in FUGU's initial risk profiling and risk scoring modules.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fugupayments
• YouTubeyoutube.com/@fugurisk
• Facebookfacebook.com/people/FUGU-It/61588441492740
• LinkedInlinkedin.com/company/fugurisk

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FUGU