San Mateo, California, US, 9th of August, 2021. Feedzai, the world’s leading anti-fraud solution for merchant and bank payments, announces the acquisition of Revelock. The movement aims to create the world’s largest AI-powered financial risk management platform with native, integrated behavioral biometrics.
Seaya co-led Revelock’s (formerly known as Buguroo) Series A funding round in late 2019 alongside TenEleven Ventures, a leading global Cybersecurity-focused VC fund based in the US. Furthermore, this transaction comes after a $200 million investment round for Feedzai that took place earlier this year. This deal confirms the good results of Seaya Ventures funds as a top quartile VC fund globally.
The movement is very strategic as Revelock enhances Feedzai’s world’s leading cloud-based financial risk management platform, bringing their expertise on detecting and preventing all types of impersonation and manipulation attacks thanks to its behavioral biometrics and device analysis powered by deep learning technology. Together, they can provide financial institutions with pre-transaction intelligence that can prevent financial crime in real-time while every user session will still be kept anonymous.
“Revelock and Feedzai’s mutual mission to make digital commerce safe for everyone makes us a perfect fit, and by joining forces we are far better placed to stop bad actors in their tracks and turn the tide on financial crime”, said Pablo de la Riva, co-founder and CEO of Revelock. Who added that “the unified cloud-based, all-in-one financial risk management platform will empower financial institutions to finally transcend the age-old cat-and-mouse game while providing digital trust for an increasingly digitized cashless economy.”
Nuno Sebastiao, Chairman and CEO, at Feedzei, explained that “we are beyond excited because this acquisition is about much more than simply adding behavioral biometric technology to our platform. We’re also planning to change the fraud prevention landscape as we know it by launching the world’s largest Financial Intelligence Network (FIN). FIN is a vast database containing over 1 trillion data points, sessions, and profiles of both good and bad actors. Every user session will be kept anonymous, ensuring that people will always be treated as people, not as data points.”
Aristotelis Xenofontos at Seaya Ventures, commented that “This is a great outcome for the company and Seaya. We invested in Revelock with an objective to expand into Western markets and non-banking segments to create the world’s largest database of digital fingerprints of fraudsters. Less than two years later, we see this plan getting accelerated massively by joining forces with the no.1 Cybersecurity company in the world. This deal validates Seaya’s global reach and ability to help entrepreneurs secure their desired exit path.”
Headquartered in the US, Feedzai supports more than 800 million consumers in 190 countries. More than 20 percent of the world’s money flows through Feedzai, including 4 out of 5 top North American banks and c.50% of the UK’s and Canada’s population.
The objective of launching the world’s largest Financial Intelligence Network, a vast database containing over 1 trillion data points, including Revelock’s dataset, is for financial institutions and merchants to know if they can trust customers at their first point of transaction – not the last.
Revelock enables financial services and fintech companies to reveal and respond to online identity impersonation & manipulation attacks without hindering the customer experience.
Protecting more than 50 million banking customers worldwide, the Revelock Fraud Detection & Response (FDR) Platform combines behavioral biometrics, network and device assessment with hybrid AI and Deep Learning to create a BionicID™ and continuously Know Your User (KYU), spot bad actors and mitigate risk regardless of the type of attack. From new account creation and login to logout, across every interaction, Revelock non-intrusively detects behavioral and environmental anomalies while protecting customers from RATs, zero-day malware, bots and social engineering attacks. For more information, visit Revelock.com
Feedzai is the market leader in safeguarding global commerce with today’s most advanced cloud-based risk management platform, powered by machine learning and artificial intelligence. Feedzai is securing the transition to a cashless world while enabling digital trust in every transaction and payment type. The world’s largest banks, processors, and retailers trust Feedzai to protect trillions of dollars and manage risk while improving customer experience for the everyday user, without compromising on privacy. Feedzai is a Series D company, and has raised $282M to date with a current valuation of well over $1B. Its technology protects 800 million people in 190 countries. For more information, visit feedzai.com.
About Seaya Ventures
Seaya Ventures is a leading European & Latin-American Venture Capital firm based in Madrid, Spain, investing in exceptional entrepreneurs who are building global technology companies. Since raising its first fund in 2013, Seaya manages an aggregated volume of €300M across three early-stage funds. Seaya Ventures accelerates startup growth by working with the founders to enhance their strategic vision, putting at their disposal its global platform, its strong network of founders, investors and corporates, as well as Seaya’s experience in scaling leading companies such as Glovo, Cabify, Wallbox, Clarity, Clicars and Savana. For more information, please visit www.seayaventures.com.