Insights

Fall Funding Fever: Friday Dealbook

10/2/2020

By: Liminal Team

An increasingly digital world is driving increasingly complex regulation, compliance requirements, and fraud, leading to higher demand for streamlined solutions that solve for said complexity. This week’s deals reflect this trend, with PayMongo bringing in $14.7 million for its secure and efficient payments platform, ID-Pal raising $1.17 million for its end-to-end KYC solution, and BioCatch pulling in $20 million for its biometrically-enabled fraud prevention services.

 

The regulatory landscape is only going to become more complex, as countries adopt new rules around data privacy, data localization, and public safety – companies should differentiate themselves by offering solutions with both robust security and seamlessness. 

 

 

Subscribe to the
Liminal Newsletter

Stay updated with the latest news, data and insights from Liminal

Top Deals
PayMongo
paymongo.com
Founded in 2019

Developer of a mobile payment platform designed to make the collection of payments easier. The company's platform is engineered to scale hidden fees and offers embedded checkout forms and shareable payment links with no fees and transaction security, enabling businesses to accept online payments from multiple channels and scale faster and more efficiently.

 

The company raised $14.72 million of Series A venture funding in a deal led by Stripe on September 24, 2020. Global Founders Capital, Bedrock, and Y Combinator also participated in the round. The funds will be used to introduce new features and products and to grow the product, design, and engineering teams.

ID-Pal
id-pal.com
Founded in 2016

Provider of an end-to-end KYC solution intended to help businesses meet AML & KYC requirements eliminating the complexity, cost, timelines and risk associated with regulatory compliance. The company's platform offers a web portal for businesses and mobile application for customers to create a seamless end-to-end solution for capturing, verifying, and storing customer identity documents and information, enabling businesses to verify the identity of customers in real-time, simply, securely, and conveniently.

 

The company raised $1.17 million (EUR 1 million) of venture funding in a deal led by ACT Venture Capital on September 28, 2020. Other undisclosed investors also participated in the round. The funds will be used to invest in all areas of the company's business as it eyes international growth opportunities.

BioCatch
biocatch.com
Founded in 2011

Developer of a biometric technology designed to recognize a wide range of human and non-human cybersecurity threats. The company's technology focuses on online and mobile fraud mitigation and develops biometric identification methods that identify users based on their physical behaviors like mouse habits and keystroke patterns, enabling users to stay protected from online frauds and cybercrimes.

 

The company raised $20 million of Series C venture funding in a deal led by Bain Capital Tech Opportunities and Maverick Ventures on September 30, 2020. American Express Ventures, National Australia Bank, Barclays, Industry Ventures, NexStar Partners, CreditEase, Decacorn Capital, Janvest Capital Partners, Blumberg Capital, OurCrowd (Specialized Finance), Noah Pickholtz, Citigroup, HSBC Holdings, and Kreos Capital also participated in the round. The funding raised will be used to accelerate the company's rapid growth, broaden product offerings and further support expanding client base into new verticals.

Investor Highlights
Bedrock
bedrockcap.com
Founded in 2017

Founded in 2017, Bedrock is a venture capital firm based in New York, New York. The firm prefers to invest in companies operating in the information technology sector.

 

Active Portfolio - 26

Investments (TTM) - 17

Med. Round Amount - $11.26M

Med. Valuation - $100.00M

# of Exits - 2

 

First AML

Flock Safety

PayMongo

Radar

explore more

Case Study

Private Equity Due Diligence: Jumio Raises $150M to Fuel Automation

Articles

Consumer Identity Conditions and Features Framework

Search
Generic filters
Filter by Content Type
Select all
Research
Podcasts
Articles
Case Study
Videos
Filter by Category
Select all
Customer Onboarding
Fraud and Risk
Go-to-Market
Growth Strategy
Identity Management
Landscape
Market Intelligence
Transaction Services