FrankieOne nets $15.5m for unified onboarding system

FrankieOne nets $15.5m for unified onboarding system

FrankieOne, a unified onboarding and fraud prevention platform, has reportedly raised $15.5m in its Series A+ funding round, bringing the round’s total to $30m.

Greycroft and AirTree Ventures served as the lead investors, according to a report from Crowdfund Insider. Binance Labs and Kraken Ventures also joined the round as first-time backers.

Existing FrankieOne investors, Tidal Ventures, Reinventure and Apex Capital Partners also joined the round.

This funding will help FrankieOne scale quicker and mirror its success in Australia across North America and Asia Pacific.

Founded in 2019 by Simon Costello and Aaron Chipper, the company is a unified onboarding and fraud prevention platform. It helps banks and FinTechs improve their decision making through a single API and dashboard to manage KYC, AML and fraud.

FrankieOne offers a cloud native, end-to-end platform that automates data capture and decision making for customer onboarding and ongoing monitoring. It handles orchestration of all third-party tools from biometrics, KYC, KYB, AML through to fraud.

This investment comes after a period of significant growth for FrankieOne. Over the past 12 months, the company experienced 4,700% revenue growth over the past 12 months. Its clients include Shopify, Afterpay, Westpac and Pointsbet.

The company initially raised $20m for its Series A in 2021. Capital came from AirTree Ventures, Greycroft, Tidal Ventures, Apex Capital, Mantis VC, 20VC and more.

Last year, FrankieOne signed a partnership with Australian RegTech platform Arctic Intelligence.

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