BlockScore raises USD 2 mln, plans expansion

Friday 27 June 2014 00:33 CET | News

BlockScore, a provider of identity-verification and anti-fraud technology for online businesses, has raised USD 2 million in seed financing from a group of companies including Battery Ventures, Khosla Ventures, Lightspeed Venture Partners, New Atlantic Ventures, Boost VC, Y Combinator and several angels.

BlockScore intends to use the new funds for product development and sales expansion.

When a user signs up with a company using BlockScore, the company asks for his or her name, address, date of birth, and either passport number or the last four digits of his or her social security number. That information is sent to BlockScore’s API and is checked against several public and private databases and watch lists. To combat identity theft, BlockScore then generates a list of questions that only the person owning that identity would know.

BlockScore is an ID verification system for Know Your Customer/Anti-Money Laundering (AML/KYC) compliance and anti-fraud. BlockScore provides identity verification and knowledge-based authentication (KBA) to many industries including marketplaces, financial instructions, Bitcoin, and sharing economies.

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Keywords: BlockScore, identity-verification, anti-fraud technology, security, web fraud
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events