(L-R) FrankieOne Co-Founders Aaron Chipper and Simon Costello
FrankieOne, a global platform connecting customers to multiple identity verification and fraud detection vendors via one API, has added US$15.5 million to its Series A+ round.
The investors are AirTree Ventures, Greycroft (an investor in Bumble, HuffPost, and Venmo), Reinventure (Westpac’s venture arm), Tidal Ventures, Apex Capital, Binance Labs, and Kraken Ventures.
This brings the Australian startup’s total Series A funding to US$30 million.
The new tranche will allow FrankieOne to expand its business across Asia Pacific and North America.
Founded in 2019 by Simon Costello and Aaron Chipper, FrankieOne is an identity and fraud detection engine helping companies onboard and protect their customers.
Also Read: 8 ways cyber crimes are impacting your business
The platform connects banks, crypto exchanges, fintech and gaming companies to prominent vendors and data sources across 48 markets through one API integration.
Through their vendor partners, FrankieOne is connected to hundreds of data sources enabling businesses to verify customers from multiple data sources selected from a global data pool, increasing the probability of a fast, automatic verification.
It enables customers to choose their preferred data vendors and to switch to new vendors, fraud detection capabilities and geographies. The solution covers the full customer life cycle, from onboarding to transaction monitoring.
The platform is optimised to verify customers safely and securely and leverages over 350 data indicators to minimise risk and maximise opportunity.
FrankieOne has a presence in Australia, Singapore and the US.
The firm claims its revenue grew 4,700 per over the last 12 months, with customers including market leaders Westpac, Shopify, Afterpay, and Pointsbet.
Also Read: ‘From a cybersecurity perspective, the Asian market still uses legacy tools’
CEO Simon Costello said: “We have been laser-focused on improving the onboarding customer experience and have been overwhelmed with the response, now helping over 170 financial institutions globally. Our platform is helping drive business growth and allows our customers to respond quickly to trends in fraudulent behaviour and changing regulations, which is particularly helpful, given the increase in fraud.”
—
Fundraising or preparing your startup for fundraising? Build your investor network, search from 400+ SEA investors on e27, and get connected or get insights regarding fundraising. Try e27 Pro for free today.
The post HuffPost investor, Binance join US$15.5M Series A+ round of fraud detection startup FrankieOne appeared first on e27.