Financial technology group Feedzai had raised USD 200 million in a round led by investment company KKR valuing the startup at more than USD 1 billion.
Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round. Feedzai develops artificial intelligence and machine learning technology that helps banks and other financial firms to spot and prevent payments fraud, money laundering, and other types of illicit activities.
The funding will be used to speed up Feedzai’s global expansion and expand its product range. Feedzai’s clients include large companies such as Citigroup, Fiserv, and Banco Santander, as well as fintechs such as SoFi.
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