Founded within Raobank, SurePay is a provider of payment verification technology solutions for corporate clients across Europe and the UK. The company minimises fraudulent and misdirected payments through its real-time IBAN-name check and Confirmation-of-Payee (CoP), Verification-Of-Payee (VOP), and Fraud Risk Indicator (FRI) products.
Once embedded, the solution reduced impersonation scams by 81% and error payments by 67% on average, according to SurePay, supporting over 200 banks and 750 corporate customers.
Carlyle is funding SurePay through its CETP V fund, a USD 3.2 billion vehicle focused on growth-stage tech businesses in Europe. The CETP team is effective in scaling European financial technology and GRC software platforms. Notable investments include FRS Global, ITRS, Calastone, Trema, and VWD.
SurePay was created by Rabobank to offer quality financial services with platform reliability, scalability, and security. With the investment from Carlyle and Rabo Investments, the company aims to expand its suite of payment verification and fraud prevention solutions and scale up its geographical presence across Europe and beyond.
SurePay expressed its appreciation for Connected Capital and Iris Capital for their partnership since 2021, as well as the expertise they have brought to growing B2B SaaS businesses. With the new collaboration, the company leverages Carlyle’s experience in financial infrastructure and enterprise software to help Rabobank in supporting geographical expansion.
CETP supports SurePay as it is a payment verification solutions provider with proven technology and relationships across the UK and European banking ecosystem, building a platform that offers a real-world impact in reducing fraud and improving payment accuracy for both corporate clients and financial institutions.
Additionally, SurePay partnered with Finance Denmark to provide a national Verification of Payee service to customers and businesses. Denmark chose SurePay as it sought to strengthen its position to fight payment fraud, while also preparing its financial sector for compliance with the upcoming EU Instant Payments Regulation.
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