News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

London Antifraud Startup Nets $21.6 Million from Worldpay, Others

London Antifraud Startup Nets $21.6 Million from Worldpay, Others

Featurespace, a London-based antifraud technology provider, has secured new funding totaling $21.6 million it will use to expand internationally. The company, which uses machine learning and behavioral analytics to power its fraud detection and prevention solution, said part of the new capital infusion will come from e-commerce processor and acquirer Worldpay. Under the agreement, Worldpay will use Featurespace’s technology as part of the fraud prevention mix that protects its e-commerce merchants.

“We are always looking to work with innovative companies and are confident that this partnership will deliver superior outcomes for our customers, by preventing more fraudulent transactions whilst reducing the number of genuine transactions that are declined,” said Worldpay CIO Mark Kimber. “We’ve been incredibly impressed by the evolution of this business and believe it has the potential to grow significantly.”

Featurespace and its adaptive behavioral analytics solution grew out of research conducted at Cambridge University. The funding round was led by Highland Europe, with participation from Invoke Capital, Touchstone Innovations, NESTA, TTV Capital and Robert Sansom, in addition to Worldpay.

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