Cambridge based machine-learning driven fraud prevention startup Featurespace has raised a £16.5m funding round led by Highland Europe
Featurespace Limited, a Cambridge, UK-based provider of a machine-learning driven fraud prevention solution, raised £16.5m in funding. The round was led by Highland Europe, with participation from Invoke Capital, existing investors Touchstone Innovations plc, NESTA, TTV Capital, Robert Sansom, and global payments company Worldpay. Alongside committing investment, Worldpay has formed a commercial partnership with the company to help further accelerate the development of fraud prevention services for its own merchant customers. As part of the agreement, Worldpay will licence Featurespace’s advanced behavioural analytics technology for a number of key use cases, including risk management and fraud prevention for merchants. The funds will be used to support the company’s international expansion and continued development of itsits software capabilities.