This week has brought about some fantastic news for Feedzai announcing it raised $200 million in a series D funding round led by KKR. It means that Feedzai has become Portugal’s first-ever tech unicorn company.
This past year has certainly taught us that cybersecurity and fighting fraud need to be top priorities for governments, enterprises and financial institutions the world over. In fact, today Action Fraud released figures that COVID scams have cost consumers £37.5m since the start of the pandemic, with more than 6,000 COVID related scams being reported to UK police in the past year.
Feedzai’s financial risk management platform is used by 80% of Fortune 500 companies and protects around 45% of all UK account holders from fraud. The new investment will be used to accelerate the company’s global expansion, further develop its product offerings, and boost its partner strategy to strengthen its position as one of the most comprehensive financial crime prevention and risk management solution on the market.
We’re pleased that many of our clients are leading the charge to identify, detect and protect users from cybercriminals and extend our warmest congratulations to Feedzai, in particular, as their businesses grow!