ZeroRisk, a leader in merchant risk and compliance management software has announced it has raised $4 million in a funding round led by Elkstone. ZeroRisk will use the funding to expand its U.S. presence where it serves a number of Tier 1 acquiring banks.
Founded in 2023 to redefine compliance and cybersecurity, ZeroRisk transforms end-to-end merchant management for leading financial institutions across the globe. Its technology streamlines payment card industry compliance and delivers real-time data insights for acquiring banks, payment service providers, digital sellers, and other financial institutions to manage complex portfolios.
ZeroRisk’s Merchant Management platform is a unified, cloud-native solution that turns complex processes into one scalable system. The software allows users to manage all aspects of merchant risk and compliance such as the Payment Card Industry Data Security Standard and the NIST Cyber Security Framework. By leveraging vast amounts of data, the platform provides real-time analytics, dynamic risk scoring, and actionable insights. This helps organisations identify vulnerabilities and surface cyber risks before they become critical issues. The platform also integrates automated compliance workflows and a curated solutions marketplace, allowing users to proactively enhance performance, and improve decision-making.
“ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, expanding beyond cybersecurity and compliance to address broader merchant risks and other critical compliance standards’” said Gary Nolan, Co-Founder and CEO of ZeroRisk. “This funding allows us to scale globally and continue delivering innovative solutions to our customers.”
The payment card industry is grappling with increasingly sophisticated cyber threats and mounting regulatory demands. The majority (80%) of global companies fail to meet PCI compliance standards, particularly in the SMB space, underscoring the critical need for enhanced security measures and strict adherence to evolving regulations.
Zerorisk’s platform is addressing these threats by providing enterprise-grade security solutions tailored for small and mid-size businesses at scale. Through advanced risk intelligence, automation and seamless compliance enablement, Zerorisk empowers SMB’s to protect their businesses with the same level of security as larger enterprises. By democratising cybersecurity, ZeroRisk is bridging the gap between regulatory complexity and practical, cost-effective protection – ensuring that every merchant, regardless of size, can operate with confidence in an evolving threat landscape.
ZeroRisk will use the new financing to expand its operations globally, particularly in the U.S. market. The company is hiring for 40 roles across a variety of functions, including data science, user experience, product, engineering, and sales and marketing. These new roles will enable the firm to enhance the delivery of cutting-edge solutions that empower acquiring banks, ISOs, and merchants with real-time insights and advanced compliance tools.
“ZeroRisk is uniquely positioned to help acquiring banks manage the complexities of merchant portfolios in an evolving cyber risk landscape,” said Niall McEvoy, Head of Venture at Elkstone. “Their scalable solutions and innovative use of AI are setting a new standard for risk management in the payment ecosystem, and we’re proud to support their ambitious plans for growth.”
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