Justt News
7 articles
growth-positive
Market corrections trim valuation, but rapid growth keeps the company on track for profitability by 2027.
Israeli startup Justt, specializing in chargeback management, raised $30 million in a Series C funding round led by Zeev Ventures, with participation from Oak HC/FT and F2 Venture Capital. This brings their total capital raised to approximately $100 million. Despite a lower valuation due to market corrections, Justt is on a rapid growth trajectory, with revenues tripling in 2023 and more than doubling in 2024. The company, which now employs about 100 people, down from 200, aims for profitability by 2027. The chargeback management market is expanding, driven by the increase in online transactions. Justts platform addresses both unintentional and fraudulent chargebacks, offering significant economic relief to businesses.
InvestmentLayoffs
growth-positive
The Israeli company protects businesses from 'friendly fraud,' in which customers cancel valid credit card transactions, despite receiving the product or service that they ordered.
Israeli fintech company Justt has completed a $30 million Series C financing round, led by Zeev Ventures with participation from Oak HC/FT and F2 Venture Capital. This brings Justts total funding to $100 million. The company specializes in protecting businesses from friendly fraud, where customers cancel valid credit card transactions after receiving the product or service. Justts AI-driven platform analyzes over 500 data sources to determine the legitimacy of transaction cancellations, helping businesses recover lost revenue. With over 200 customers in sectors like e-commerce, tourism, and shipping, Justt plans to use the new investment to expand globally and enhance its technology. The company aims to reach profitability by 2027.
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Chargebacks: Justt Introduces AI Capabilities, Provides Clarity for Chargeback Management, Mitigation
growth-positive
G2A Partners With Justt to Increase Chargeback Win Rate and Streamline Organizational Complexity
Eikonikos, a Metaverse company, is set to release their AVRA Collection, a wearable NFT collection for Cardano Metaverse Avatar NFT holders. The company has been delivering on its promises to the Cardano NFT community and has become the first Cardano Metaverse to release a Minimum Viable Product (MVP) using Unreal Engine 5. Eikonikos has introduced various in-game utilities and recently launched the Beta version of their virtual planet. The AVRA Collection, created by fashionista Aiisha Ramadan, offers exclusive clothing inspired by different aspects of life. The collection provides users with benefits such as access to games, well-being sessions, land plots, and more. Eikonikos is positioning itself as a trailblazer in the Cardano NFT and Metaverse space. The company is preparing for a major event to unveil the AVRA Collection and expand metaverse access through web browsers.
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Chargeback Mitigation Startup Justt Names New Execs
growth-positive
"אחרי הקורונה, ביטולים לא לגיטימיים של עסקאות באשראי זינקו במיליארדים" | כלכליסט
Justt, a company specializing in the identification and verification of credit transaction cancellations, has seen a significant increase in illegitimate transaction cancellations since the pandemic. According to Ronen Ben Ami, co-founder and CRO of Justt, the volume of illegitimate cancellations has jumped from $25-50 billion globally to $125 billion. This has a significant impact on businesses, as they bear the economic brunt of these cancellations. Justt aims to help businesses by conducting all the necessary checks for them, potentially increasing their net profit. The company has automated the process, which can take credit card companies up to 120 days, allowing them to handle a large volume of requests.
Customers
growth-positive
Justt comes out of stealth with $70M in funding to help online merchants fight false chargebacks with AI
Tel Aviv-based chargeback mitigation startup Justt has emerged from stealth with $70 million in total funding. The company fully automates chargeback disputes on behalf of online merchants using artificial intelligence. Justt recently raised $50 million in a Series B funding round led by Oak HC/FT. Its annual recurring revenue has increased by 900% since September 2020, and its headcount has grown to over 110 employees. Justt aims to help merchants globally fight false chargebacks, which represent at least 85% of disputes and result in over $125 billion in annual losses. The company plans to use the funding to invest in product development, sales and marketing, and expand its operations to the US and Europe.
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