Q4 has wrapped up! It’s time for our quarterly investment update. Explore the latest funding rounds and acquisitions in the world of fraud and risk mitigation!

Funding

Feedzai

$75M Funding Feedzai has secured a $75 million investment, boosting its valuation to over $2 billion. The round included participation from Lince Capital, Iberis Capital, and Explorer Investments, alongside existing backers. The company specializes in using AI to combat financial crime and plans to use the capital to expand its market reach and further develop its fraud prevention technology.

Doppel

$70M Series C Doppel has raised $70 million in a Series C funding round led by Bessemer Venture Partners, valuing the company at over $600 million. New investors include CrowdStrike CEO George Kurtz and NTT DOCOMO Ventures. The startup focuses on AI-native social engineering defense to protect organizations from impersonation and phishing attacks.

TMT ID

€34M Investment TMT ID, a mobile data and identity intelligence company, has received a €34 million investment from BGF. This funding will support the company’s international expansion and product development. TMT ID uses mobile insights to verify user identities and prevent fraud, aiming to bolster digital trust for its global client base.

Chargeflow

$35M Series A Chargeflow has successfully raised $35 million in a Series A round led by Viola Growth. The company automates chargeback management and combats friendly fraud for e-commerce merchants. The funds will be used to scale its AI-driven platform and launch new tools for post-purchase protection.

Imper.ai

$28M Funding Imper.ai has launched with $28 million in funding co-led by Redpoint Ventures and Battery Ventures. The startup provides real-time protection against AI-powered impersonation attacks, including deepfakes and voice clones. Its agentless platform integrates with tools like Zoom and Slack to verify identities during digital interactions.

Resistant AI

$25M Series B Resistant AI has secured $25 million in Series B funding led by DTCP, with participation from GV and others. The company develops AI models to detect document fraud and money laundering, specifically targeting threats from generative AI. The investment will accelerate its expansion into new markets and enhance its threat intelligence capabilities.

AiPrise

$12.5M Series A AiPrise has raised $12.5 million in a Series A round led by Headline to streamline global compliance. The company offers a platform that orchestrates Know Your Customer (KYC) and Know Your Business (KYB) processes across over 150 countries. The funding will enable AiPrise to expand its team and enhance its automated fraud detection solutions.

Condukt

$10M Seed Condukt has emerged from stealth with $10 million in seed funding led by Lightspeed Venture Partners and MMC Ventures. The startup focuses on “Know Your Business” (KYB) compliance, offering real-time data monitoring to help financial institutions manage risk. The capital will support its product development and commercial expansion.

Falkin

$2M Pre-Seed Falkin has raised $2 million in pre-seed funding led by TriplePoint Ventures. The London-based startup uses AI to detect and prevent scams in real-time before payments are made, integrating directly into banking apps. The funds will be used for hiring and further product development to protect consumers from sophisticated fraud.

ThreatFabric

Strategic Investment OneSpan has made a strategic investment in ThreatFabric, a provider of mobile threat intelligence and fraud detection. While the specific amount wasn’t disclosed, the partnership aims to integrate ThreatFabric’s malware defense capabilities with OneSpan’s security solutions. This move strengthens their joint ability to combat authorized push payment fraud and other digital threats.

Acquisition

NoFraud

NoFraud has acquired Yofi.ai to combat the growing issue of return fraud, which costs retailers over $100 billion annually. By integrating Yofi’s policy abuse detection capabilities, NoFraud expands its platform to cover the entire customer journey. The move targets complex threats like promo abuse, reseller schemes, and wardrobing. This unification aims to protect merchant margins while preserving a seamless shopping experience for legitimate customers.

Themis

Themis has acquired Pasabi, an Edinburgh-based fraud monitoring firm, to strengthen its fight against financial crime. The deal integrates Pasabi’s “agentic AI” technology, which detects fake accounts, scams, and counterfeit goods, into Themis’s existing compliance ecosystem. This strategic move accelerates Themis’s product roadmap, allowing it to offer real-time behavioral analytics and social media monitoring. The combined entity aims to provide a more holistic defense against sophisticated financial threats

Ping Identity

Ping Identity has completed the acquisition of Keyless to advance its privacy-preserving biometric authentication capabilities. Keyless’s “Zero-Knowledge Biometrics” technology allows for secure, device-independent verification without storing sensitive user data. The integration enhances Ping’s platform by offering protection against deepfakes and account takeovers while eliminating the need for passwords. This move supports global adoption of secure, frictionless identity management for enterprises.