Event: 2023 Phocuswright Europe
Product: Justt.ai
HQ: Tel Aviv, Israel
Principal(s): Ofir Tahor, Co-Founder and CEO; Roenen Ben-Ami, Co-Founder and Chief Risk Officer
Funding: $70 million total; Series B - $50 million, Series A - $15 million and Seed - $ 5 million
Product Description: Justt’s smart chargeback automation provides merchants with hands-free chargeback mitigation backed by an AI engine to continuously help drive increased win and recovery rates. This fully automated solution connects seamlessly with your payment services provider for real-time chargeback status information, automatically retrieves evidence across your payments ecosystem via API or CSV file integration, and assembles it into intelligent templates submitted as representments on your behalf.
Business Model: Justt offers different pricing to support diverse business models: There is a pay for performance model that is based on successful recovery of chargebacks or a model based on the combination of a tech platform fee and a fee for chargebacks handled.
Competitors: Chargebacks911, Chargeback Gurus and Midigator
Competitive Edge: Hands-free chargeback mitigation eliminates merchant time and manpower, scaling automatically to handle fluctuating chargeback volumes without sacrificing quality.
Market Opportunity: With the growth of card-not-present payments, spurred by the development of eCommerce, illegitimate chargebacks have become a $125 billion a year problem. No longer can chargebacks merchants afford to ignore chargebacks as “just the cost of doing business.” Meanwhile, the technology in the space has not kept up with advances in automation and machine learning, tech that makes fighting chargebacks much more cost-effective. Justt is here to fill that void.
Early Customers: Justt works with leading travel and e-commerce merchants.
