Privacy (https://privacy.com/), a provider of easy to-use software that protects your digital rights, today announces the official launch of its first payments product designed to keep your personal information secure without sacrificing convenience. The company also announces today that it has secured a seed round of $2.2 million in funding led by Index Ventures, with additional investment from Rocketship.vc and angel investors. The new capital will be used for product development, engineering resources and growth efforts.
Privacy is exiting private beta just in time for the holiday shopping season, a prime time for scammers, and as credit card fraud has increased each year this decade. According to a recent Nilson Report, fraud is expected to exceed $3 trillion by 2020. Privacy was co-founded by payments and security company veterans, including Andy Roth, the former Chief Privacy Officer at American Express, as as a way to give people control of their personal and financial information. Designed for everyone, Privacy generates a new virtual card for every credit card transaction a shopper makes, protecting them from the worry and time-consuming headaches associated with credit card fraud, data breaches, and identity theft.