Online fraud management secures $5.5m Series A


Online fraud management platform CashShield has secured a $5.5m Series A strategic investment led by GGV Capital.

Contributions to the funding also came from Heliconia Capital Management, Tony Fadell, Razer, and Stream Global.

CashShield is a machine automated fraud management solution, which uses AI and Wall Street trading tools and is powered by trading algorithms, real-time pattern recognition and biometric analysis. The platform does not need human interface to detect and prevent fraud, with the algorithms able to self-learn.

The company has screened transactions in over 190 countries in sectors including e-commerce, digital goods, telecommunications and online travel, among others. CashShield has secured billions in Gross Merchandise Value for companies including Razer and Square Enix.

With the latest injection of equity, CashShield will continue its international expansion in North America, Europe and Asia.

Alongside the funding, CashShield is opening an office in California which is its first in the US. The company currently has offices in Singapore, Berlin, Jakarta and Shanghai.

Nest founder Tony Fadell said, “The ability to fight fraud in real-time is a game-changer in the digital landscape where threats are constantly evolving. CashShield’s technology is truly revolutionary, and its product has been proven around the world over the past decade to drastically reduce fraud rates to one-tenth of the industry’s average.”

Following the investment, GGV Capital managing partner Jenny Lee will join CashShield’s board of directors.

Copyright © 2017 FinTech Global

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