Payfone gets USD 100 mln investment fund led by Apax Digital

Friday 19 June 2020 10:37 CET | News

Payfone has raised USD 100 million to acquire strategic assets, strengthen its ML capabilities, and build a cross-industry consortium to secure digital transactions and experiences. 

The investment was led by Apax Digital, the growth equity team of Apax Partners. Payfone’s customer identity platform enables the world’s financial institutions, healthcare organisations, and technology companies to bring speed and security to their onboarding, digital servicing, and call centre processes.

Payfone’s authentication solutions, including its unique Trust Score tool, are built on ten years of proprietary phone intelligence that enable Payfone to anonymously measure a phone number’s reputation and risk with real-time processing of behavioural signals. The platform instantly detects burner phones, spoofed calls, real-time SIM swap fraud, and synthetic identities, while removing friction from legitimate transactions. Payfone also provides call verification solutions that run passively in the background of a phone call, allowing faster issue resolution.

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Keywords: Payfone, investment, Apax Digital, ML, digital transactions, identity platform, financial institutions, security, onboarding, digital services, authentication, behavioural signals, SIM swap fraud, synthetic identities, spoofed calls
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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