Thirdfort Secures £15M For Anti-Money Laundering Platform
03/08/22, 12:00 AM
Location
Money raised
£15 million
Online verification platform Thirdfort has raised £15m in a Series A funding round led by Breega and Element Ventures, with the founders of ComplyAdvantage, Tessian, Fenergo, R3, Funding Circle and Fidel also investing.
Company Info
Location
london, ontario, canada
Additional Info
The London-based startup has built a platform to provide ID verification and tackle money laundering payment fraud, which has been a major problem in the capital. The company said approximately 700 businesses are already using its platform, with the majority operating in the legal and property markets. Thirdfort also has a consumer-focused service, in the form of an app for customers of those businesses. Thirdfort will be using the latest round of funding to continue expanding its services, with a key aim to build payment infrastructure directly into its platform.“For both consumers and professional services, the risk of fraud and the need for compliance represents a massive burden,” said Maxence Drummond from Breega.“Consumers need to get verified for every transaction, and regulated professionals spend too much of their valuable time on client verification and compliance.