Cybertonica raises GBP 2 million to further develop its transaction fraud and risk management platform

Thursday 9 January 2020 08:43 CET | News

Cybertonica, a platform using Machine Learning and AI for delivering authentication, risk analytics and fraud prevention to the payments and fintech sectors, has raised GBP 2 million in Series A funding.

The round is led by the London-based Venture Capital company Force Over Mass Capital (FOMCAP), with the participation of TrueSight Ventures and Springboard. The funding will be used by Cybertonica to extend its product in behavioural analytics ScreenWiZe 2.0 and strengthen the data and AI capabilities of the Anomalytics platform.

The company’s London headquarters, and tech teams will grow by 50% in the coming months and the company expects to double revenue run rate by June 2019, according to the official press release.

Cybertonica’s service increases conversion and sales by up to 25% while managing card-not-present and other categories of fraud at world-class compliant standards. Its ScreenWiZe product adds device risk management through SDKs (iOS and Android) to the mobile authentication and malware prevention for all fintech and payment customers.

This new funding brings the total venture capital raised to GBP 3.5 million in 3 years of groundwork by the founding team and early team members.

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Keywords: machine learning, AI, Cybertonica, platform, mobile authentication, funding, risk management, Anomalytics platform, UK, risk analytics, fraud prevention, fintech
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime