Financial industry fraud platforms gaining traction : Weekly Dealbook


By: Liminal Team

Investments in this week's deals show rapid market growth in financial industry fraud platforms. Stripe acquired Bouncer for an undisclosed amount as the company continues to expand its business solutions. The acquisition will broaden Stripe's capabilities to automatically run card authentications and detect fraud in card-based online transactions.  Amount raised  $99 million in Series D funding to digitize their product offering through a robust point-of-sale suite with fraud prevention functionality. Two Sense raised $3 million of seed funding.  The company's platform allows users to reduce fraud with only a few lines of code. Lastly, Splunk (NAS: SPLK) acquired TruSTAR for an undisclosed amount to expand its existing security capabilities. The company aims to provide highly effective fraud detection that responds to threats autonomously and efficiently.  

Macro image of black geometric shapes, 3D illustration, abstract background
Top Deals

Bouncer is a developer of a financial platform intended to detect credit card frauds in real-time. The company's platform scans credit cards and adds them to the payment method and provides powerful verification with a simple scan for any card or ID, while cleanly flagging stolen cards and high-risk transactions, thereby enabling credit card enterprises to improve conversion while solving fraud.

Bouncer was acquired by Stripe for an undisclosed amount on May 14, 2021. On the heels of a $600 million fundraise earlier this year, payments giant Stripe has been on an acquisition march to continue building out its business. Bouncer platform will allow Stripe to automatically run card authentications and detect fraud in card-based online transactions. Its technology is tailored for mobile transactions and includes a flow to help users authenticate themselves if they are mistakenly flagged, to come back into an app legitimately.


Amount is a developer of a financial platform intended to help banks and financial institutions to digitize their retail product offerings. The company helps partners go digital in months with omnichannel retail banking experiences and a robust point-of-sale financing product suite underpinned by platform features including fraud prevention, verification, decision engines, and account management, enabling clients to modernize the user experience and optimize growth.

The company raised $99 million of Series D venture funding in a deal led by Westcap on May 17, 2021, putting the company's estimated pre-money valuation at $901 million. Barclays, Goldman Sachs Growth Equity, Invus Opportunities, and Hanaco Venture Capital also participated in the round. The funds will be used to further accelerate R&D by investing in the company's technology and products. It also will be eyeing some acquisitions. Previously, the company raised $86 million of Series C venture funding in a deal led by Goldman Sachs Growth Equity on December 2, 2020, putting the company's pre-money valuation at $600 million. Barclays, Swingbridge, August Capital, Invus Opportunities, Hanaco Venture Capital, DFJ Growth, and other undisclosed investors also participated in the round.


TWOSENSE is a developer of behavioral software created for continuous biometric authentication in the workplace. The company's software reduces fraud with a few lines of code, observes and models the behavioral fingerprint of each authorized user, and denies entry to attackers, thereby enabling businesses to keep their applications safe by invisibly authenticating employees based on their behavior.

The company raised $3 million of Seed funding in a deal led by Atypical Ventures and Preface Ventures on May 11, 2021, putting the company's pre-money valuation at $10 million. Glasswing Ventures, Brand New Matter, Entrepreneurs Roundtable Accelerator, Jonathan Cogley, Josh Lospinoso, Marc Weiss and other undisclosed investors also participated in the round.

Investor Highlights
Goldman Sachs Growth Equity

Goldman Sachs Growth Equity is a part of the merchant banking division and growth investment arm of The Goldman Sachs Group based in New York, New York. The firm seeks to invest in growth-stage and technology-driven companies focusing on enterprise software, fintech, consumer, and healthcare sectors.


Active Portfolio - 162

Investments (TTM) - 35

Med. Round Amount - $43.00M

Med. Valuation - $253.0M

# of Exits - 67 




Very Good Security


Public Highlights

Splunk provides software for machine log analysis. Its flagship solution, Splunk Enterprise, is employed across a multitude of use cases, including application management, IT operations, and security. The company has historically deployed its solutions on-premises, but the software-as-a-service delivery model is growing in popularity with Splunk Cloud. The company derives revenue from software licenses, as well as cloud subscriptions, maintenance, and support.


Splunk (NAS: SPLK) acquired for an undisclosed amount on May 18, 2021, TruSTAR, a provider of an intelligent management platform designed to back companies to resolve cybersecurity threats. With this acquisition, Splunk further expands its existing security capabilities, giving customers the ability to access all their data to cut through complexity, drive highly effective detection and respond to threats faster and autonomously.

Subscribe to the
Liminal Newsletter

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

explore more
Private Equity Due Diligence Jumio $150M

Case Study

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

Research on Transaction Fraud Prevention in E-Commerce


Merchants Prioritize Customer Experience Over Effective Fraud Prevention Despite Significant Concern for AI-Enabled Fraud Attacks in Digital Transactions

Filter by Content Type
Select all
Case Study
Filter by Category
Select all
Customer Onboarding
Fraud and Risk
Growth Strategy
Identity Management
Market Intelligence
Transaction Services