Israel-based ThetaRay has raised USD 31 million in a funding round to facilitate safe, secure cross-border payments.
ThetaRay's solution helps banks, financial institutions, and businesses to increase and simplify the volume of transfers, ensuring their timely completion and monitored costs, without fear of being used for money laundering, terrorist financing, human trafficking, and narco-trafficking.
New investors include Benhamou Global Ventures and Saints Fund. Existing investors OurCrowd, Bank Hapoalim, SBT, and others also participated in the round.
Along with raising money, ThetaRay announces that the Governments of Nigeria & the Ukraine have successfully implemented ThetaRay’s solutions fighting terrorism and corruption.
ThetaRay's Financial Crimes Prevention Solution is designed to instill certainty and reduce risks in cross-border payments, and to protect banks, fintech companies and private companies that offer payment transfers. It protects them against attempts to abuse their money transfer platforms for sophisticated money laundering. The solution reduces total cost of ownership (TCO), quickly increases revenues, improves customer service, and boosts ROI.
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