Fraudio secures USD 3.3 mln in seed round

Investors in this round are the founders of fintech companies Stone and SaltPay, VCs BiG Start Ventures and BYND Venture Capital, as well as the founders of Viva Wallet, ComplyAdvantage and VOLT, and experts from the payments and cybersecurity industries.

The team has spent 2 years building what it describes as a cloud native centralised AI and machine learning payment fraud detection solution that can be leveraged by companies in the payments ecosystem: payment-service-providers (PSPs), acquirers, issuers, processors, card schemes and even large merchants who run their own checkout or gateway.

Current customers include Viva Wallet, Borgun, Novalnet, PagueloFacil and other undisclosed customers in Europe, North America, Latin America, and Asia.