NAME OF STARTUP: Nethone
FOUNDED IN (Year): 2016
FOUNDER’S NAME: Hubert Rachwalski (CEO)
THE IDEA: What is the problem being solved by your startup / business?:
Reducing fraud for merchants and customers (account takeovers, identity theft, minimising false positives and chargebacks) and ensuring smooth/frictionless online transactions.
THE FOUNDER’S STORY: When and how did you come up with the idea for the business?:
The initial project evolved over time into a company that was established and developed within the structures of Daftcode – the largest venture building company in Poland. Almost from the very beginning, Hubert Rachwalski (now CEO) and Aleksander Kijek (now CINO) were involved in the project and now the running of the company.
There are still people on board who have co-created with the company from the very beginning. Our first customers were mostly from Latin America, mainly Brazil.
Our first goal was the MVP Profiler – a module that collects over 5,000 attributes of a specific user and their device (used to access the website or log in to the application on a mobile device). All information collected improves the prediction of a user’s behavior and provides relevant and useful data in real time.
The uniqueness of our Profiler was, and still is, based on the analysis of 3 categories of attributes: device characteristics (hardware, software, browser) network characteristics (connection types, VPN detection, etc.) behavioral biometrics (how a user browses a site, in a way that is completely unique to each person; how they type, scroll, move a mouse or touchpad, etc.)
The initial project evolved over time into a company that was established and developed within the structures of Daftcode – the largest venture building company in Poland.
WHO IS THE CUSTOMER: What is the typical profile of your target customer? Where would they be located?:
Executive and top-level decision makers of e-commerce, digital goods, travel and financial industries dealing with online payments. The beauty of our fraud detection and prevention solution is that it is a truly global service not limited by geographic barriers.
LESSONS TO SHARE: What 3 key lessons from your startup journey you’d like to share with aspiring entrepreneurs?:
Payment fraud is a global phenomenon, diversified, operating differently in different markets, but the methods of combating or carrying out fraud and the flow of this information is global, so we think of ourselves as a global company. Currently, the team is mainly located in Warsaw, Poland, but we have representatives in Brazil, Russia, Singapore and in several other European countries.
HQ City: Warsaw, Poland
Website URL: https://nethone.com
Number of Employees: We have 70+ employees.