# CheckMate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/checkmate

- Industry: Software
- Headquarters: Tel Aviv, Israel
- Website: www.checkmate.ai/
- Latest round: Seed (Jan 1, 2023)
- Investors on record: 1

## About

CheckMate is focused on preventing fraud through an advanced behavioral analytics platform that employs machine learning models and graph data science algorithms.CheckMate, founded in 2022, is a Tel Aviv-based company specializing in financial fraud prevention. The company was established by individuals with experience in the tech industry, although specific founder details are not available. CheckMate has completed a total of 2 deals since its inception.CheckMate specializes in financial fraud prevention through its advanced behavioral analytics platform. The company's core product leverages machine learning models and graph data science algorithms to analyze unique customer behavior patterns, aiming to identify and flag activities that deviate from established norms. This solution is particularly designed to combat emerging and sophisticated fraud typologies, offering real-time risk scores within 100 milliseconds before any monetary transactions are executed. CheckMate's products are cloud-agnostic and can be deployed both on-premises and in the cloud, enhancing security and privacy standards by ensuring no customer data leaves the bank. The primary markets served by CheckMate include the United States and the United Kingdom, focusing on financial institutions that are increasingly vulnerable to fraud, especially with the rise of real-time payment systems.CheckMate's revenue model is primarily based on subscriptions and partnerships with financial institutions that utilize its fraud prevention solutions. Clients pay to access the platform, which integrates into their existing systems to deliver real-time fraud detection capabilities. Transactions typically occur as a service agreement where financial institutions pay a recurring fee for continued access to CheckMate’s technology and support. The strategic pricing structure reflects the value of its advanced analytics capabilities, although specific costs associated with individual products and services have not been disclosed. By offering a robust solution to combat financial crime, CheckMate positions itself as an essential partner for banks and other financial entities, contributing to their operational efficiency and customer trust.CheckMate plans to expand its offerings by developing new products aimed at enhancing its fraud detection capabilities and is targeting a rollout of these innovations by late 2024. The company is also looking to expand its presence in continental Europe, with plans to enter markets such as Germany and France by mid-2025. Recent funding will support these initiatives, particularly in scaling development efforts and marketing strategies. Notably, The Garage exited its stake in CheckMate, though financial terms were not disclosed.

## Funding rounds

- Seed, Jan 1, 2023 — The Garage

## Investors

- The Garage (https://capitalatlas.ai/funds/the-garage) — Seed