Cloud-based threat administration agency Feedzai has raised $200 million in Sequence D funding to succeed in unicorn standing.
Its new spherical was led by KKR and noticed help from current traders Sapphire Ventures and Citi Ventures. The Sequence B brings the agency’s complete raised to $277 million.
The agency plans to make use of its new injection of money to broaden internationally and “increase its companion technique”.
The danger administration firm claims to observe greater than 800 million prospects throughout 190 international locations for its purchasers.
Customers of the Feedzai platform embody Citibank, Santander, SoFi, and Customary Chartered. The seller says it noticed “vital development” globally in 2020, in addition to with its Feedzai Options platform.
Feedzai says its knowledge exhibits within the final quarter of 2020 shoppers confronted a 650% improve in account takeover scams, a 600% in impersonation scams, and a 250% improve in on-line banking fraud. It believes a requirement for extra digital options is equating to an larger demand for safe methods to function digitally.
“Shoppers throughout the globe count on quick, dependable, seamless, and safe banking and cost experiences,” says Feedzai CEO Nuno Sebastiao.
“The world has quicker digitisation necessities, and monetary establishments want dependable options that thrive on this new digital setting.”
KKR is making the funding by way of its Subsequent Era Know-how Development Fund II, a fund devoted to development fairness funding alternatives within the know-how house.
“Feedzai presents a robust answer to one of many greatest challenges we face right this moment,” says KKR managing director Stephen Shanley.
“International commerce is dependent upon future-proof applied sciences able to coping with a quickly evolving menace panorama.”