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Detected secures a £ 1.5 million Seed Follow On investment led by Love Ventures – UK Tech Investment News

Detected raises £ 1.5 million in fourth round of funding

Detected raised an additional £ 1.5 million in just three weeks, on top of the £ 2 million sown in previous funding rounds. DETECTED

London, 2nd March 2022: Today, Detectedthe critical component of the global KYB compliance infrastructure, announces that it has raised an additional £ 1.5 million in just three weeks, on top of the £ 2 million sown in previous funding rounds.

Since it was founded in July 2020, Detected has grown significantly after three more successful funding rounds and a number of successful partnerships, also with visaresulting from its value in the payment stack.

This funding round was led by Love Ventures with their FinTech advisor John Lunn, a famous veteran of the FinTech world. In 2006 John joined PayPal as one of the original team members in the UK and later helped launch PayPal Ventures. He is now CEO of Gr4vy, the cloud orchestration platform, and will play an advisory role to assist in the growth of the company.

Detected turns compliance with KYB into a competitive advantage by streamlining lengthy onboarding processes that discourage new customers while providing companies with the ability to adhere to rapidly changing regulatory requirements. Its founder, Liam Chennells, noticed a significant gap in company data while working on freight transportation during the pandemic. He found it very time-consuming or impossible to find reliable information. Soon after, he founded Detected so that other companies could find information about any company, anywhere, in seconds.

Using its unique “Find Company” algorithm, Detected can find and verify any registered company in the world, using only the company name and city. Businesses can search and locate corporate, corporate, and director credit information from around the world in seconds. From there, identity verification, UBO information and company documentation can be collected and linked to the company profile. The platform also uses advanced APIs so that any business can seamlessly connect software and add infrastructure to their existing workflow.

Detected CEO Liam Chennells explains,

“Detected can instantly find any legitimate company in the world. KYB is currently seen as an operational barrier when it should be an asset and our technology is driving this change. Detected gives companies full visibility of any entity they wish to work with, significantly reducing the friction involved in supplier onboarding. In this way, it can help stimulate commercial activity, especially when working with customers, suppliers or partners in emerging markets. “

John Lunn, Love Ventures FinTech Consultant, says:

“I am very impressed with companies that solve very complex challenges and present their solutions in a simple way. Detected is a creator of categories, he has set the standard for what global KYB means and we couldn’t be more excited to get involved. ”

Chennells says,

“I am happy with what we have achieved in just 18 months and am excited about what lies ahead. Our partners already include payment service providers, markets and fintech providers, however the areas this technology can benefit from are limitless. “

Detected continues to commit to and provide investors with previous funding rounds, including:

  • Huw Slater – COO of TravelPerk
  • Laurence Guy – Founder and CEO of We Are Pentagon
  • Tink Taylor – Founder and President of dotMailer and Founder of dotDigital Group plc
  • Ed Hill – EMEA Senior Vice President of Bazaarvoice
  • Maropost adventures
  • Stephen Garland – TrustPilot Chief Technology and Product Officer
  • Rob Barnett – former Chief Operations Officer of RBS and CEO of Southern Water

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Detected secures a £ 1.5 million Seed Follow On investment led by Love Ventures – UK Tech Investment News

Source link Detected secures a £ 1.5 million Seed Follow On investment led by Love Ventures – UK Tech Investment News

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