Global payments platform Worldpay has taken part in the £16.5m funding round of adaptive behaviour analytic technology company Featurespace.
The round was led by Highland Europe and also saw commitments from Invoke Capital and Touchstone Innovations.
Alongside Worldpay’s commitment, it has formed a partnership with Featurespace to help with the development of its fraud prevention services for Worldpay merchant customers. As part of the agreement, Worldpay will licence Featurespace’s technology for risk management and fraud prevention applications.
Worldpay is also a payment processor, currently supporting 126 currencies across 146 countries to enable merchants with reliable and secure payments. The company offers more than 300 payment methods including card machines, online payments, telephone payments and email payments.
UK-based Featurespace uses real-time, AI-powered ARIC technology to supply clients with fraud detection and prevention. Its services are currently present in more than 180 countries, with customers including SYS, Playtech, Betfair, Vocalink Zapp, CashFlows, Camelot and William Hill.
Worldpay CIO Mark Kimber said, “We are always looking to work with innovative companies and are confident that this partnership will deliver superior outcomes for our customers, by preventing more fraudulent transactions whilst reducing the number of genuine transactions that are declined.â€
Following this new injection of capital, Featurespace has received a total of $30m, with the company raising a $9m venture round led by TTV Capital, last year.
Earlier in the year, Worldpay was acquired by payment processor Vantiv, in a deal worth around £7.7bn.
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