Heka, a startup from Israel that uses web intelligence to fight online fraud, has raised $14 million in Series A funding. The company plans to use the money to grow in the U.S. and strengthen its presence in the UK and Europe.
The funding was led by Windare Ventures, with support from Barclays, Cornèr Banca, and other major investors.
Last year, people lost $12.5 billion to fraud — a 38% increase from the year before. This rise was caused by things like fake accounts, false online profiles, and smart AI-generated content.
Older fraud detection tools, such as credit reports and transaction speed tracking, were designed for a time when online behavior was more predictable and consistent. Heka says it was created to fix this problem and offer better fraud protection.
Heka was founded in 2021 by Rafael Berber (a former top trader at Merrill Lynch), Ishay Horowitz (a senior officer from Israeli intelligence), and Idan Bar-Dov (a lawyer with experience in fintech and tech). The company uses methods inspired by intelligence work to offer what it calls “always-on, easy-to-understand” web intelligence.
Heka’s special AI technology scans large amounts of public online data to create real-time digital profiles. This helps banks and financial companies spot fake identities, risky behavior, or unusual patterns, making it easier to catch fraud and quickly connect with real, trustworthy customers.
Heka uses a smart AI tool that works in real-time, unlike older systems that depend on outdated lists and old credit information.
In a recent test with a global payment company, Heka’s AI detected 65% of account takeover fraud without impacting genuine customers. This is important because banks don’t want to block good users by mistake.
The company says its technology is already making millions of dollars by working with banks, payment companies, and pension funds. These clients use Heka’s data to find fraud, manage accounts, recover money, and make other important decisions where old data isn’t good enough.
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