3 years ago

Detected Secures £1.5 Million to Expand Business Verification Platform

  • Detected, a London-based business verification platform, has secured £1.5 million in funding led by Love Ventures and its fintech advisor John Lunn

  • This brings the total investment in the regtech startup to £3.5 million

  • Detected provides software to help companies comply with ‘know your business’ (KYB) regulations, using a “Find Company” algorithm to verify the legitimacy of other organizations

  • The company also uses APIs to connect its platform to businesses' workflow systems

  • This latest funding follows a £250,000 pre-seed round in October 2020 and comes just 18 months after the company was founded by Liam Chennells in July 2020.

      • ProblemTechnology

      "Companies need a reliable and efficient way to verify the legitimacy of other businesses for compliance and risk management purposes, especially with the rise of global commerce and digital transactions."

      Solution

      "Detected offers a business verification platform that uses a "Find Company" algorithm and global data sources to instantly verify the legitimacy of any company worldwide, streamlining compliance and onboarding processes."

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