Easy Solutions, a South Florida company offering fraud protection solutions, today announced that it has closed an $11 million Series B financing round from Medina Capital, a high-growth equity investment firm focused on the IT infrastructure sector. The funds will be used to expand sales and marketing in the U.S. and worldwide to meet increasing demand for the company’s total fraud protection platform, said Easy Solutions, which has headquarters in Sunrise and Bogota.
More than 100 enterprise-class customers, from high-value, client-centric market segments such as banking and online retailers, leverage the Easy Solutions platform to secure over 32 million end users worldwide. The company’s comprehensive line of products provide a multi-layered approach to securing transactional environments from fraud, while leaving legitimate users unaffected.
“Online fraud is a growing concern, with sophisticated attacks becoming increasingly difficult to detect and block,” said Manuel D. Medina, founding and managing partner of Medina Capital. “Easy Solutions has a proven, multi-layered approach that enables their customers to prevent both simple and complex fraud attempts. Their customers, including major banks we spoke with, have seen a significant drop in fraud-related losses as a result of leveraging Easy Solutions’ scalable fraud prevention platform.”
Easy Solutions’ products deliver cross-channel fraud protection across transactions performed on online and mobile platforms, as well as via ATMs, Point-of-Sale terminals, and Interactive Voice Response (IVR) systems. This ability to quantify and protect against cross-channel risk in real-time continues to grow more critical, as criminals leverage multiple channels to conduct highly sophisticated fraud.
“The recent US$45 million theft, which utilized both online hacking of credit card processors databases in India, and then physical ATM fraud in New York, is just the latest example of why cross-channel fraud protection is increasingly crucial for financial institutions,” said Ricardo Villadiego, founder and CEO of Easy Solutions. “With this infusion of capital, we are excited to expand our reach to new markets as we deliver the industry’s most comprehensive fraud protection platform to customers around the world.”
Medina Capital focuses on areas such as cloud computing, cybersecurity, big data, software-defined security and software-defined networking.