Portuguese fraud prevention fintech Feedzai has achieved a valuation exceeding $2 billion after raising approximately $75 million in a Series E funding round.
The investment round featured continued backing from existing investors Oxy Capital and Buenavista Equity Partners, while also bringing new institutional partners Iberis Capital, Lince Capital, and Explorer Investments into the company’s investor base.
Founded in 2011, Feedzai offers a suite of cloud-based risk management solutions, including anti-money laundering (AML), transaction fraud prevention, and customer verification tools. The company claims to currently safeguard over $70 billion in annualised payment volume across card transactions and bill payments globally.
This latest funding round follows Feedzai’s $200 million Series D in 2021, which valued the company at $1 billion, and comes hot on the heels of the company’s acquisition of US-based data integration and onboarding specialist DemystData earlier this year.
The fresh capital injection also coincides with the firm’s selection as the primary provider of fraud detection and prevention services for the European Central Bank’s (ECB) digital euro. Under this agreement, valued at €79.1 million ($92 million) with potential to reach €237.3 million ($280 million), Feedzai will deliver fraud risk scoring for every digital euro transaction in collaboration with subcontractor PwC.
“While the framework agreements set the terms for potential future work, the actual development of the components, or certain parts of them, will be decided at a later stage,” states Feedzai.
Feedzai joins a host of other fintech firms recently chosen by the ECB to advance the digital euro initiative, including Almaviva and Fabrick for mobile application development, EquensWorldline for secure data exchange, Sapient for alias look-up functionality, and Giesecke+Devrient for offline payment capabilities.
Source: https://www.fintechfutures.com/
