The London and New York-based startup Detected has recently announced the completion of a follow-on funding round, raising $2.5 million. This brings the total funding for the company to $8.5 million, as reported by Tech.eu.
- Founded in 2020 by Liam Chennells and Peter Youell, Detected provides a software platform for businesses, with a particular focus on payment companies and marketplace operators, to validate and conduct due diligence on other companies.
- The startup’s solution aggregates fraud, risk, and compliance data sources in one place, allowing clients to complete the necessary checks before onboarding new customers or partners
- Investors in this round include existing backers Thomson Reuters Ventures, Love Ventures, as well as business angels. This new funding follows over $3 million investment that Detected secured in January 2023.
“This investment round further confirms our continued progress and sets us up for the next phase of our growth as we deepen relationships with enterprise clients and rapidly increase the volume of payments businesses we work with” - Liam Chennells, co-founder and CEO at Detected, comments on the deal.
- The proceeds will bolster the company's growth strategy for 2024, particularly after its expansion into the US last year.
