Feedzai Raises $75M, Valued at $2B, as First-Ranked Digital Euro Fraud Provider
Feedzai, a leading fraud detection and prevention company, has secured $75 million in funding, valuing the company at $2 billion. The round was led by Tiger Global Management, Dragoneer Investment Group, and Sapphire Ventures. This investment comes as Feedzai makes significant strides in the digital euro space, being selected as the first-ranked provider for fraud and risk management by the European Central Bank (ECB).
Feedzai's partnership with PwC aims to deliver a central fraud detection and prevention mechanism for the digital euro, expected to launch by 2029. The ECB's framework agreement for digital euro components is valued at €79.1 million ($92.8 million) with a maximum value of €237.3 million ($277.3 million).
Feedzai's platform debuted at Money20/20 Europe in 2014 and has since grown to defend 900 million people in 190 countries from fraud. The company's recent products include Feedzai Orchestration and Feedzai IQ. In April 2023, Feedzai acquired data management platform DemystData for $157 million, further expanding its capabilities.
With over $352 million raised in total capital, Feedzai's latest funding round at a $2 billion valuation signals investors' confidence in the company's potential. As the first-ranked provider for the digital euro, Feedzai is well-positioned to shape the future of fraud prevention in the digital currency landscape.
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