Fiverity has raised a
$4M
Seed round to provide anti-fraud software for financial institutions.
The company is based in Boston.
Through its product, the company aims to help businesses identify:
-
- credit card fraud,
- account opening fraud,
- loan application fraud, etc.
- Mendon Venture Partners led the funding round, with participation from FinCapital, Mendoza Ventures, Service Provider Capital, and Grasshopper Bank.
- With this investment, FiVerity will expand its network of information providers and data while introducing advanced machine-learning algorithms.
- Since its inception in 2017, the company has raised $6M.
According to
reports
, 91% of company executives said that fraud rates have increased at their organization year-over-year.
|
|
