$10m · Series A · Fintech · Ireland
Irish merchant-cybersecurity company ZeroRisk has raised $10m in Series A funding led by MiddleGame Ventures, with existing investor Elkstone also participating. The company said the investment will fund global expansion, further product development and the operating capacity needed to deploy its platform across large merchant portfolios.
ZeroRisk sells to the institutions that sit between payment networks and merchants: acquiring banks, processors, payment facilitators and other financial institutions. Its platform combines portfolio-level risk monitoring with compliance, merchant education, guided remediation and protection services. Instead of giving each merchant another isolated security tool, ZeroRisk gives a payment provider one view across the businesses it serves and a way to direct merchants towards specific actions.
Founded in Ireland in 2023, ZeroRisk says it already works with Bank of America, Global Payments, Checkout.com and Trust Payments across Europe and North America. It forecasts that revenue will triple in 2026 as contracted programmes move into deployment. That is a company projection rather than realised growth, but it clarifies the purpose of the round: expanding delivery capacity around enterprise contracts that have already been won.
Payment providers are the distribution layer
Selling through payment providers changes the economics of merchant cybersecurity. One institution may serve thousands of small businesses, allowing ZeroRisk to distribute monitoring and remediation through an existing commercial relationship rather than acquire each merchant separately. The company also argues that providers can turn compliance work into paid, value-added security services, creating a revenue reason to move beyond annual checklists.
That channel can scale quickly, but only if implementation remains repeatable. Large providers have different merchant data, compliance processes and service models. ZeroRisk therefore has to integrate its risk engine without turning every deployment into a bespoke project, while producing evidence that merchants actually resolved the risks it identified.
Deployment quality is the Series A test
The product's commercial promise rests on closing the loop between identifying a risk and proving that action improved it. ZeroRisk describes a model that combines continuous portfolio scoring with remediation and retained evidence, rather than a point-in-time compliance snapshot. For payment providers, that could make small-business cyber risk more manageable across a broad customer base.
The Series A gives ZeroRisk resources to deepen that platform and support contracted rollouts. The next proof point is not the number of institutions named in an announcement, but whether deployments move into sustained usage across their merchant portfolios. Reliable integrations, measurable remediation and recurring adoption will determine whether institutional distribution becomes durable infrastructure rather than a collection of customised programmes.
