Feedzai, a San Mateo, CA and Lisbon, Portugal-based provider of a financial risk management platform, raised $200m in Series D funding round.
The round was led by KKR, which will be making the investment through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space, with participation from existing investors Sapphire Ventures and Citi Ventures.
The company intends to use the funds to accelerate global expansion, further develop its product offerings, and boost its partner strategy.
Led by Nuno Sebastiao, CEO and Chairman, Feedzai provides a cloud-based comprehensive financial crime prevention and risk management solution used by financial institutions, payment providers, and merchants to manage the risk of financial crime while enabling an optimized experience for end-users. The core of its offering is its artificial intelligence and machine learning platform, which processes customer and third-party data to identify, assess, and accelerate the remediation of potential threats.
Today, Feedzai monitors companies with more than 800 million customers in 190 countries, with products protecting half of the U.K.’s and Canada’s populations, as well as four of the five largest banks in North America. Many of the world’s largest financial institutions, such as Citibank, Fiserv, and Santander, as well as the world’s most innovative Fintechs such as SoFi and Mox by Standard Chartered, use its AI-powered risk management solutions.