UK fintech Featurespace raises £25m in funding round
UK fintech company Featurespace has raised £25 million from a new funding round.
The round was led by Insight Venture Partners, a New York-based global private equity and venture capital firm focused on high-growth investments in the technology sector, and MissionOG, a US-based venture capital firm with significant operational and investment experience across the financial services and payments industries .
Featurespace, which has offices in London and Cambridge, is a leading provider of Adaptive Behavioural Analytics for fraud detection and risk management.
Martina King, Featurespace CEO, said: “We have made tremendous progress over the last 15 months since our last fund raising – and this fund raise is the largest to date. The additional funds will enable us to continue rapidly growing the business internationally by focusing on our products, our people and our customers.”
“Working very closely with our customers, we have developed a market-leading product to meet their fraud detection and prevention requirements. We have also significantly strengthened our senior management team and operational infrastructure, and opened an office in Atlanta, Georgia.”
“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the UK, US and Latin America. Equally important, we have become the technology partner of choice to a number of payment processors and merchant acquirers that have embedded our real-time fraud prevention technology in their anti-fraud solutions.”
Jeff Horing, Co-Founder and Managing Director at Insight Venture Partners, said: “We have been following Featurespace’s growth for over two years. Following extensive customer and product due diligence, we were delighted with market feedback around the product and team. We welcome Featurespace into our portfolio and look forward to helping the company drive international growth.”
Headquartered in the U.K. and U.S. and with offices in Cambridge, London and Atlanta, Featurespace™ is the world-leader in fraud prevention and creator of the ARIC™ platform, a real-time AI machine learning software that risk scores transactions and other events in more than 180 countries.