Thirdfort raises USD 20 mln

Tuesday 8 March 2022 12:14 CET | News

Thirdfort, a UK-based startup, has closed a funding round of USD 20 million, money that it will be using to expand its services, specifically to build payment infrastructure directly into its platform.

The raise, a Series A, was led by Breega, with B2B fintech-focused Element Ventures also investing, along with the founders of ComplyAdvantage, Tessian, Fenergo, R3, Funding Circle, and Fidel.

Thirdfort provides a big-data toolkit of multiple resources such as data from LexisNexis, ComplyAdvantage, Companies House, and more that can be corralled (and picked by the client) to provide different data points about individuals and their sources of money. Thirdfort has built tools first to address the needs of companies in the legal and property markets.

The product comes in two parts. First, there is the ‘risk engine’ built for its business clients, which can be used both for KYC checks as well as to help companies comply with anti-money laundering (AML) regulations. Second, there is an app built for consumer customers of those businesses. This has been built on Open Banking infrastructure to connect those businesses with the customer’s bank, by way of the banks’ own banking apps, for payments and related transactions to be made in a secure way. 

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Keywords: funding, identity verification, money laundering, fraud prevention, startup
Categories: Fraud & Financial Crime
Countries: United Kingdom
This article is part of category

Fraud & Financial Crime

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