SAN JOSE, Calif. & LONDON--(BUSINESS WIRE)--Signifyd, the leading guaranteed fraud protection provider, today announced the opening of its EMEA headquarters in London’s West End to serve the rapid growth of its European customer base.
The company’s newest location will help Signifyd deliver its friction-free guaranteed fraud protection to merchants throughout Europe, where it is protecting more orders shipped by more retailers than ever before.
The value of European orders guaranteed by Signifyd’s innovative technology has increased by more than four times in the last two years. Its customer base in European countries has doubled, reaching more than 500 retailers of all sizes and verticals within all major European ecommerce markets.
“As we’ve accelerated our international expansion and our move into the enterprise retail sector, it’s vital that we build a team with a broad worldview and one that works in the geographies where our customers work,” said Signifyd Co-Founder and CEO Raj Ramanand. “That means we can be more responsive and that we can proactively help solve the challenges our customers face, no matter where they operate.”
Signifyd’s investment in the EMEA market has been ongoing. The company was an industry leader in adopting international standards, including the European Union’s General Data Protection Regulation and Privacy Shield. And the London office announcement comes at a time when the company is also opening its Belfast Labs, an R&D center in Northern Ireland, to support Signifyd technology and innovation globally.
Ecommerce is not a one-size-fits-all brand of business when it comes to global consumers. As Signifyd has helped retailers expand into new markets internationally, it has understood that a fraud protection solution built for one country or region can’t simply be dropped on top of the fraud threats of another.
Building a bigger presence in Europe is a natural next step for Signifyd, which analysts Frost & Sullivan recently praised for having the most diverse first-party set of transactional and behavioral data to determine whether online orders are legitimate or fraudulent.
“With over 10,000 customers in more than 100 countries Signifyd is clearly the market leader in the guaranteed fraud protection industry,” Frost & Sullivan concluded in an October research report.
Signifyd’s EMEA headquarters will be led by Ed Whitehead, a London-based sales executive who has worked for companies including EMR, Experian and Gigya.
“This is an exciting day for Signifyd, but more importantly, it’s an exciting day for online merchants operating in Europe,” said Whitehead, Signifyd’s managing director for Europe. “Guaranteed fraud protection has captured the mainstream market. But we know that retailers in different parts of the world face different challenges and have different priorities.”
Whitehead said he is thrilled with the opportunity to build a team in London that will shape the company’s EMEA strategy.
Signifyd’s Belfast Labs, located in the city’s Cathedral Quarter, is another sign of the company’s commitment to the European market. The center will house a team of top engineers driving Signifyd innovation globally, while supporting teams around the world.
Trevor McCullough, director of engineering at the Belfast Labs, said he expects the center to be on an aggressive growth path — something he looks forward to.
“The Signifyd Belfast Labs is a great opportunity for those who want to dive into machine learning and other significant technologies and craft solutions that make a real difference in the business fortunes of ecommerce retailers around the world,” McCullough said. “Not to mention the center provides a great opportunity to work with some of the best minds in technology today.”
The European expansion marks the most recent milestone in Signifyd’s torrid growth trajectory. In the last year, the company has doubled its number of customers, secured a $100 million round of funding and been named an industry leader by Deloitte, Frost & Sullivan and CBE Insights.
It is the latest sign that the guaranteed fraud protection model is the way of the future. The model combines big data, machine learning and a financial liability shift to help merchants provide a friction-free buying experience for their customers without fear of fraud.
Signifyd, the world’s largest provider of guaranteed fraud protection, enables online retailers to provide a friction-free buying experience for their customers. Signifyd leverages big data, machine learning and domain expertise to virtually eliminate manual reviews, speed up order processing and increase revenue through higher approval rates. The guarantee shifts the financial liability for fraud away from retailers, allowing them to open new markets while reducing risk. Signifyd counts among its customers a number of companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in San Jose, CA, and London, with locations in Barcelona and Belfast.