Anti-fraud artificial intelligence solution platform Feedzai has secured a $50m Series C.
The investment round was led by an undisclosed investor and also saw a commitment to the round from Sapphire Ventures.
Feedzai is a machine learning, omnichannel fraud prevention solution for banking and shopping services. The platform analyses various data streams and fraud insights to create risk profiles, which help with account opening with its KYC, OFAC, ID checks and account verification solutions.
The platform also helps to ensure payments are valid and provides real-time transaction verification risk scoring.
The new wave of funding will help the company to increase its growth efforts, hire top staff and develop its data science and machine learning technology.
Sapphire Ventures venture partner Anders Ranum said, ?Fraud is and will continue to be a critical issue as more business is transacted digitally. Feedzai proprietary platform puts the power back in the hands of merchants, issuers and payment networks to manage risk while improving topline revenue.p>
Following the new injection of equity, the company has raised a total of $82m, with Oak HC/FT, Capital One Growth Ventures, Citi Ventures, among previous backers. Last year the company received an undisclosed investment from Citi Ventures to help with international expansion.
Anti-fraud companies have not seen as much funding this year compared to 2016, with only $247m being deployed in the first three quarters. This funding is in comparison to the $350m which was deployed in the same period last year.
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