ZeroRisk, an Irish provider of compliance and cyber risk management tools for the payment industry, has successfully raised $4 million in a funding round led by Elkstone.
Founded in 2023, ZeroRisk simplifies payment card industry compliance and offers real-time data insights for acquiring banks, payment service providers, digital sellers, and various financial institutions.
The platform enables users to oversee all aspects of merchant risk and compliance, including adherence to the Payment Card Industry Data Security Standard and the NIST Cyber Security Framework. Its real-time analytics and dynamic risk scoring empower organizations to identify vulnerabilities and address cyber risks before they escalate.
“ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, going beyond cybersecurity and compliance to tackle broader merchant risks and essential compliance standards,” stated Gary Nolan, co-founder and CEO of ZeroRisk. “This funding allows us to scale globally and continue delivering innovative solutions to our customers.”
The company plans to utilize the new financing to expand its global operations, with a particular focus on the US market, where it currently partners with several Tier 1 acquiring banks. Additionally, ZeroRisk is looking to fill 40 positions across various functions, including data science, user experience, product development, engineering, and sales and marketing.