W2 Global Data raises GBP 1.25 mln to further money laundering fight

Monday 23 July 2018 10:14 CET | News

W2 Global Data, a South Wales fintech company, has closed a GBP 1.25 million funding round backed by Mercia Fund Managers, Development Bank of Wales and TTI Angels.

W2 provides identity verification services to help prevent fraud and money laundering. With access to thousands of government and commercial data sources, it can instantly verify whether the data given by individuals is genuine and even whether they are on a criminal wanted list.

W2’s software-as-a-service (SaaS) tools allow payment and financial services companies to screen clients and managers, online retailers to verify the identity of purchasers in card transactions and online gaming companies to check the age of players.

W2 Global Data, which is based in Newport and has doubled in size since the beginning of 2018, is now planning to recruit a further 20 staff. The latest funding round follows an initial investment by Mercia and the development bank in 2017 and brings the total amount raised by the company to over GBP 3.0 million.

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Keywords: W2 Global Data, AML, KYC, identity verification, fraud screening, identity verification
Countries: World

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