FeedZai, a Coimbra, Portugal-based provider of fraud prevention software that protects electronic transactions, raised $2.4m in funding.
Backers included two new US investors SAP Ventures and Data Collective.
In conjunction with the funding, the company also launched FeedZai North America in Redwood City, California, as a wholly owned business. Nuno Sebastiao, CEO of FeedZai, has relocated from Portugal to the United States to build his US team with new hires across all functions of the business (read here).
FeedZai’s Fraud Prevention software employs big data analytics to instantly identify new fraudster schemes to stop fraudulent transactions in the first occurrence without waiting for typical semi-annual analytic model updates.
Customers include Coca-Cola, Logica, Vodafone, Ericsson, SIBs Payment Solutions, Horizon Wind Energy, and Servebase Credit Card Solutions.