11 years ago

Semafone Raises £4 Million for Global Expansion of Fraud Prevention Software

  • Semafone, a UK-based provider of fraud prevention software, secured a £4 million growth capital investment from Business Growth Fund, Octopus Investments, and existing shareholders

  • The investment will enable Semafone to expand its operations into overseas markets

  • Semafone's technology anonymizes credit card details during phone transactions, enhancing security and customer experience

  • The company serves clients including Sky, Virgin Holidays, Talk Talk, Aviva Canada, and Capita.

      • ProblemTechnology

      "Making taking payments over the phone secure and easy for businesses is difficult. Customers are wary of sharing card details over the phone, leading to high abandonment rates. Fraud is also a concern. "

      Solution

      "Semafone provides software that anonymises sensitive credit and debit card details as they are keyed in by the customer during a telephone transaction, sending them directly to the bank. This makes it easier and safer for customers to make payments, increasing conversion rates. The software also helps reduce fraud."

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