Simplex
Fraud Prevention in Online Payments
Company Overview
Snapshot
Founded in April 2014 by Nimrod Lehavi, Netanel Kabala, and Erez Shapira, Simplex maintained 201–500 employees. The company was acquired by Nuvei Corp in May 2021.
Business overview
Simplex specializes in fraud prevention for online payments, leveraging artificial intelligence and machine-learning technology to secure credit card transactions. The company's core product analyzes payment data in real-time to determine transaction safety, guaranteeing merchants against fraudulent chargebacks. Simplex also facilitates cryptocurrency purchases, such as Bitcoin, with credit cards, protecting exchanges and brokers from fraud. It operates within the Fintech & Insurtech sector, serving online businesses and the broader digital payment ecosystem.
Strategic signal
Simplex's acquisition by Nuvei Corp in May 2021 for an estimated $250 million highlights the increasing consolidation and strategic value placed on fraud prevention technologies within the fintech and cryptocurrency sectors. This exit signals strong market demand for robust security solutions that enable seamless and secure digital transactions, particularly as mainstream financial institutions and payment processors expand their offerings to include digital assets.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant corporate milestone for Simplex?
- Simplex was acquired by Nuvei Corp in May 2021. This acquisition was reported to be for $250 million, according to news sources.
- When was Simplex founded and by whom?
- Simplex was founded in April 2014 by Nimrod Lehavi, Netanel Kabala, and Erez Shapira.
- What was Simplex's last disclosed funding round?
- Simplex secured its last disclosed funding of $7M in February 2016 from investors including Bitmain and FundersClub.
- What was Simplex's initial funding round?
- Simplex received seed funding in May 2014 from investors including AGILE WINGS and Yaron Lemelbaum.
- Did Simplex receive any non-equity funding?
- Yes, Simplex secured a grant in March 2015 from the Office of the Chief Scientist.