Fintech startup Feedzai valued at $1 billion in KKR-led funding round
Financial technology group Feedzai said on Wednesday it had raised $200 million in a round led by investment company KKR valuing the startup at more than $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 company, whose engineering and product operations are based in Portugal, will use the money to speed up its global expansion and expand its product range, it said.
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