The latest funding brings CashShields total financing to USD 25.5 million. Early investors Tony Fadell and GGV Capital are doubling down on CashShield in this round, increasing their stake in the company. Temasek, a global investment company, joins them in this second round of financing for CashShield.
Combining artificial intelligence and Wall Street high-frequency trading techniques, CashShield secures transactions and consumer accounts from cybercriminals, without the need for human intervention. With the rise of hacking and data breaches, the value of online accounts has skyrocketed, and can be sold on the dark web for 60 times more than a credit card number. The companys technology protects consumers data in a way that it cant be used once stolen.
The funding will be used to strengthen CashShields end-to-end fraud technology to provide more comprehensive fraud screening abilities for businesses, financial institutions and government organizations.
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