Simplex

Company Overview

Snapshot

Founded in April 2014 by Nimrod Lehavi, Netanel Kabala, and Erez Shapira, Simplex maintained 201–500 employees. The company was acquired by Nuvei Corp in May 2021.

Business overview

Simplex specializes in fraud prevention for online payments, leveraging artificial intelligence and machine-learning technology to secure credit card transactions. The company's core product analyzes payment data in real-time to determine transaction safety, guaranteeing merchants against fraudulent chargebacks. Simplex also facilitates cryptocurrency purchases, such as Bitcoin, with credit cards, protecting exchanges and brokers from fraud. It operates within the Fintech & Insurtech sector, serving online businesses and the broader digital payment ecosystem.

Strategic signal

Simplex's acquisition by Nuvei Corp in May 2021 for an estimated $250 million highlights the increasing consolidation and strategic value placed on fraud prevention technologies within the fintech and cryptocurrency sectors. This exit signals strong market demand for robust security solutions that enable seamless and secure digital transactions, particularly as mainstream financial institutions and payment processors expand their offerings to include digital assets.

Company Intelligence Q&A

When was Simplex acquired and by whom?

Simplex was acquired by Nuvei Corp in May 2021.

What was the reported acquisition amount for Simplex?

Nuvei Corp acquired Simplex for an estimated $250 million in May 2021, as reported by en.globes.co.il.

Which investors participated in Simplex's Seed funding round?

In May 2014, Simplex received Seed funding from AGILE WINGS and Yaron Lemelbaum.

Which investors participated in Simplex's A Round funding?

In February 2016, Simplex received A Round funding from Bitmain and FundersClub.

Did Simplex receive any non-equity funding?

Yes, in March 2015, Simplex secured a grant from the Office of the Chief Scientist.