Financial technology group Feedzai said on Wednesday it had raised US$200 million in a round led by investment company KKR valuing the startup at more than US$1 billion.
Existing investors, including Sapphire Ventures and Citi Ventures, also participated in the round, the San Mateo, California-headquartered company said.Feedzai develops artificial intelligence and machine learning technology that helps banks and other financial firms to spot and prevent payments fraud, money laundering and other types of illicit activities.
The use of digital banking and payments is booming globally, in part due to the coronavirus pandemic which has led both consumers and businesses to conduct more activities online.
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