FiVerity Raises $4 Million to Launch Anti-Fraud Collaboration with Banks
BOSTON, April 20, 2023 /PRNewswire-PRWeb/ -- FiVerity, creators of the Anti-Fraud Collaboration platform, today announced a $4 million seed financing round, led by Mendon Venture Partners, a venture capital investment and strategic advisory firm focused on the intersection of financial technology companies and traditional banks. Joining Mendon on the cap table are FinCapital, Mendoza Ventures, Service Provider Capital, and Grasshopper Bank.
- Joining Mendon on the cap table are FinCapital, Mendoza Ventures, Service Provider Capital, and Grasshopper Bank.
- The failure to quickly identify and stop fraud can result in legal repercussions and the loss of important customer relationships.
- With this investment, FiVerity will expand its network of information providers and data, while introducing advanced machine learning algorithms.
- These will identify the methods fraudsters are using, and compare patterns against those within a financial institution's systems.