Chargeflow, a startup using AI to fight chargeback fraud, today announced that it raised $11 million in a seed round led by the VC firm OpenView Venture Partners. The tranche builds on Chargeflow’s previously undisclosed $3 million seed round closed several months ago, bringing the startup’s total raised to $14 million.
Chargeflow was launched in 2021 by Ariel Chen and his brother Avia Chen, both Israeli-American entrepreneurs. They previously co-founded Babe Cosmetics, a beauty brand developing a line of skincare products, which they sold to focus on Chargeflow.
“Although Babe Cosmetics was thriving, it encountered a significant problem with chargebacks,” Ariel and Avia told TechCrunch via email. “This glaring issue, coupled with our expertise in ecommerce, tech and fintech, ignited our determination to find a solution — but we couldn’t find an existing one.”
So Ariel and Avia started Chargeflow, which taps machine learning to generat...
