FrankieOne closes USD 20 million Series A funding round

Tuesday 12 October 2021 14:54 CET | News

Australia-based identity and fraud-prevention platform FrankieOne has announced it has secured USD 20 million in Series A round to power its international expansion.

The round was led by Australian VC AirTree Ventures, and Greycroft, a US-based VC company whose prior investments include Bumble, HuffPost, and Venmo. Harry Stebbings’ UK-based 20VC, as well as Reinventure, Tidal Ventures, APEX Capital, and Mantis VC also contended to join the competitive and oversubscribed round.

FrankieOne’s Annual Recurring Revenue (ARR) has reached 20x year-on-year, driven by international growth, with sales outside of Australia now comprising approximately 50% of the company’s revenue, compared with 1%  at the beginning of 2021. The platform has attracted over 80 new clients across banking, BNPL, digital exchanges and fintech, including tier 1 companies such as Afterpay, Westpac, and Zipmex. To date, all growth has been organic, as until now the company has not had a sales or marketing team.

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Keywords: funding, digital identity, fraud prevention, expansion
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Australia
This article is part of category

Securing Transactions