New co-chief executive for Fraugster

The Berlin-based AI start-up wins the former head of Klarna Germany for its cause. Another financing round is now set to follow.

The anti-fraud start-up Fraugster has a new boss. Founder Max Laemmle confirmed to the Handelsblattthat former Klarna Germany boss Christian Mangold will now manage the company together with him. "If we want to scale across all regions of the world, we need more than two shoulders," Mangold explained his appointment.

Fraugster's technology is designed to help online store operators to expose potential fraudsters before they can make a purchase. The Berlin-based company uses artificial intelligence to analyze data such as address, credit card number and IP address.

Laemmle also told Handelsblatt that he is planning another round of financing for Fraugster. He hopes to raise a double-digit million amount in the coming months. So far, the start-up has been able to raise around 30 million euros in funding.