Feedzai is announcing a $50 million Series C this morning led by an unnamed VC with additional capital from Sapphire Ventures. The six year old startup builds machine learning tools to help banks and merchants spot payment fraud. In today’s rapidly maturing world of fintech, Feedzai is trying to thread the needle between turnkey solution and customizable platform. With 60 clients including major financial institutions like Capital One and Citi, Feedzai remains optimistic that allowing savvy customers to build on top of its service is the key to longevity. Feedzai’s platform is specifically designed to help mitigate payment fraud. This includes use cases where money is transacting between at least two parties. Under a microscope, seemingly boring transaction logs can hint at illicit actors looking to game the system for financial gain.

https://techcrunch.com/2017/10/17/feedzai-closes-50m-series-c-to-help-banks-and-merchants-identify-fraud-with-ai/?via=indexdotco