Australia-based EFTsure has reportedly netted $2m for its Series A funding round from Our Innovation Fund, to help with deployment of its New Payments Platform.
With this capital, the company plans to scale its company and to take advantage on industry growth, according to various media reports.
Founded in 2014, the company helps protect businesses from risks and error which is occurred through the payment process. Combatting fraud, the platform verifies supplier data, streamlines the supplier onboard prosses and ensures customer compliance.
The ‘Know your Payee’ technology uses a payee database which helps verify information about a payee, such as account number, to check validity of their payment.
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