visimoney
TLDR:
- Detected, a fintech onboarding startup, has raised £2m ($2.5m) in a follow-on investment round from Thomson Reuters and Love Ventures.
- The platform is comprised of a case management dashboard that aims to display customer profiles simply and clearly.
- The new funding will support the development of the company’s growth strategy in 2024 following its expansion into the US last year.
Detected, a fintech onboarding startup, has secured £2m ($2.5m) in a follow-on investment round from Thomson Reuters and Love Ventures. Founded in 2020, Detected offers a software platform for onboarding fintech customers. The platform features a case management dashboard that simplifies the display of customer profiles. Detected automates the compliance steps required to verify and bring on new clients. The latest investment follows a £2.5m seed round from the VC firm and the investment arm of Thomson Reuters in January 2023.
“Since day one, we have known that tackling the monolith that is business onboarding was going to be a huge challenge and we remain convinced that Liam and the Detected team have what it takes to change this industry for the better,” said Marcus Love, co-founder and general partner at Love Ventures.
The new funding will be used to support Detected’s growth strategy in 2024, following its expansion into the US market last year. The company plans to further develop its platform and solidify its position in the fintech onboarding industry. Detected aims to simplify the process of onboarding new clients by automating compliance steps and offering a user-friendly case management dashboard.
“We’re reinvesting in Detected because we have a strong belief in the company’s long-term potential,” said Tamara Steffens, managing director at Thomson Reuters Ventures. “As customers, we have seen first-hand the impact the technology has, and we’re excited about the momentum that Detected has developed in the market.”
Detected’s onboarding platform is expected to continue gaining traction in the market as companies seek efficient and secure ways to onboard new customers. The funding from Thomson Reuters and Love Ventures will provide the necessary resources for Detected to further enhance its platform and expand its customer base.
