NYC-based Detected Secures $2.5M in Funding. Angel investors, current investors, Love Ventures, and Thomson Reuters Ventures were among the participants in the round.
The company is going to use the funds to broaden its corporate reach and keep developing the technology. Under the direction of its CEO, Liam Chennells, Detected offers its worldwide clientele a business onboarding intelligence platform that lowers costs and regulatory risk while enhancing compliance.
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The company provides services to payment companies and marketplace operators where it is necessary and commercially important to onboard new merchants or customers in a timely manner.
With the help of its no-code modules, Detected’s customers may create the business onboarding process that best suits their needs. After that, customers link to Detected’s network of risk, fraud, and compliance sources to make sure the right checks are carried out.
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Liam Chennells said: “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.”
Tamara Steffens, Managing Director, Thomson Reuters Ventures stated: “We’re reinvesting in Detected because we have a strong belief in the company’s long-term potential. As customers, we have seen first-hand the impact the technology has, and we’re excited about the momentum that Detected has developed in the market.”
Marcus Love, Co-founder and General Partner at Love Ventures added: “Since day one, we have known that tackling the monolith that is business onboarding was going to be a huge challenge and we remain convinced that Liam and the Detected team have what it takes to change this industry for the better.”
About Detected
Detected are completely reimagining onboarding for businesses to do it faster, cheaper, and with less risk. They are a strategic partner to aspirational firms seeking to grow by bringing on new ventures.
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