Funding Fraud

Investment, Acquisitions & IPOs – Q3 2023

Q3 is a wrap! It’s time for our quarterly investment update. Dive in to discover the latest funding and acquisitions in the fraud/risk space!



SpyCloud, a leading identity analytics company specializing in safeguarding digital identities, has successfully closed a $110 million growth round backed by Riverwood Capital, a global investor in high-growth technology firms. Over 500 industry leaders, including half of the Fortune 10, rely on SpyCloud to combat cybercrimes such as ransomware, account takeovers, session hijacking, and online fraud.


Israel-based AI-powered anti-money laundering provider ThetaRay has raised USD 57 million in funding round in order to offer new business opportunities to banks and fintechs.

Following this announcement, the company will use the raise in order to expedite international expansion, as well as to improve its set of services so it meets the needs, preferences, and demands of its customers and of the overall market.


Hyperproof, a software-as-a-service risk and compliance management company, today announced that it raised $40 million in a funding round led by Riverwood Capital with participation from Toba Capital, an early-stage VC firm.


Certa, a compliance, governance and risk management platform for enterprises, today announced that it raised $35 million in a Series B round co-led by Fin Capital and Vertex Ventures, with participation from Tru Arrow Partners, Point72 Ventures, BDMI, The Chainsmokers-backed Mantis VC and GOAT Capital.


Fraud prevention tech firm CertifID just received a funding boost. The company secured $20 million in a Series B funding round, according to an announcement on Tuesday.


Trustmi lands $17M to scale its payments fraud prevention tech. Shai Gabay and Eli Ben Nun, two entrepreneurs based in Israel, met in 2018 while working at Cynet, a cybersecurity startup developing extended detection and response tools. While there, they came to realize that there was a growing need to secure payment transfers, which were becoming increasingly susceptible to fraud and cybercrime.


Bureau is announcing an additional $4.5m from GMO VenturePartners, GMO Payment Gateway, and existing investors to complete its series A funding round at $16.5m. With the completion of the latest round, total funding for the startup has reached $20.5m to date.


Chargeflow’s mission has always been to simplify and increase profitability for online merchants, retailers, and companies processing online payments. Their ethos has been that businesses should focus on serving their customers, building better products and providing better experiences. They don’t think preventing fraud, fighting chargebacks and dealing with time-consuming and profit-diminishing regulations should be one of the focus points for growing businesses. Chargeflow eliminates those pains and will continue to do so in the future.


Norwegian AML software firm, Strise, raises $10.8 million in Series A funding. The AI-powered platform offers a 90 percent reduction in diligence time with KYC automation.


Cleafy has announced the latest investment of 10 million euros, the technology company specializing in proactive fraud prevention for digital banking. The funding will allow Cleafy to develop its technology platform further as it expands into new markets.


Deduce, the only patented technology platform designed to prevent AI-generated identity fraud, today announced $9M in funding led by Freestyle Capital, with additional investment by Foundry and True Ventures.


Effectiv, a startup specializing in real-time fraud and risk management platforms, shared exciting news about securing an additional $4.5 million in seed funding. This funding will empower organizations in their battle against financial fraud.


Fraud0, a rapidly growing German-based company, has successfully secured a significant investment of €6 million.

One ID

OneID, the exclusive UK provider of bank-verified digital identification services, has just secured a substantial £1 million in fresh funding from ACF Investors.

Founded in 2020, OneID’s mission is to facilitate a secure and seamless digital experience for a broader spectrum of UK citizens. Their approach empowers banks to deliver a reliable ID service for their customers.



Israeli intelligence start-up ActiveFence has acquired Spectrum Labs, a fellow startup specializing in Contextual AI Content Moderation.

First Advantage

Employment background screening and verification provider First Advantage Corporation has acquired biometric ID verification provider Infinite ID for $41 million in cash from the balance sheet, according to a press release.

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Author: Gabriella

Marketing Associate at About-Fraud. A Brazil native, Gabriella joined About-Fraud with 4+ years of experience helping develop businesses and brands. Gabriella manages go-to-market operations and supports our global clients across a variety of service offerings.