8 years ago

Featurespace Secures £16.5 Million in Funding for Fraud Prevention Solutions

  • Featurespace, a UK-based provider of a machine-learning driven fraud prevention solution, has raised £16.5 million in funding

  • The round was led by Highland Europe, with participation from Invoke Capital, existing investors Touchstone Innovations plc, NESTA, TTV Capital, Robert Sansom, and global payments company Worldpay

  • Worldpay has also formed a commercial partnership with Featurespace to further accelerate the development of fraud prevention services for its own merchant customers

  • The funds will be used to support the company’s international expansion and continued development of its software capabilities.

      • ProblemTechnology

      "Traditional fraud detection methods are not effective against sophisticated fraud attacks because they rely on rules and patterns that fraudsters can easily bypass. This makes it difficult for businesses to protect themselves from financial losses."

      Solution

      "Featurespace's ARIC™ platform uses machine learning to analyze customer behaviour and identify anomalies that indicate potential fraud. It works in real-time, so businesses can catch new fraud attacks as they happen. "

      Covered on