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Vouched Secures US$6.3M in Round A Financing to Boost AI-based Financial Authentication Platform

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On February 27th, the financial technology authentication platform based on artificial intelligence, Vouched, announced that it had completed a round A financi…

Vouched Secures US$6.3M in Round A Financing to Boost AI-based Financial Authentication Platform

On February 27th, the financial technology authentication platform based on artificial intelligence, Vouched, announced that it had completed a round A financing of US $6.3 million, with BHG VC and SpringRock Ventures LLC leading the investment and Darrell Cavens and Mark Vadon participating in the investment. So far, its total financing amount has reached US $18 million.

The identity verification platform Vouched completed a round A financing of US $6.3 million

Interpretation of the news:


Vouched, a financial technology authentication platform that utilizes artificial intelligence to streamline identity verification, announced on February 27th that it had closed its round A financing with a total investment worth US$6.3 million. Led by BHG VC and SpringRock Ventures LLC, the investment brings the peak of the total amount the company has raised to US$18 million since its inception.

With the increasing prevalence of digital transactions and fraudsters becoming more sophisticated in their tactics, financial institutions are constantly searching for better ways to secure their client’s information. This is where Vouched comes in. The platform employs face matching algorithms and a mix of artificial intelligence-driven techniques to verify identities in real-time. Its technology is highly scalable, which makes it suitable for larger financial institutions with a digital customer base, as well as smaller fintechs.

One of the key benefits of using Vouched is that it stands out for its usability. The platform can complete verifications in under 30 seconds, making the onboarding process as painless as possible. It is also designed to address any potential biases based on age, race, or ethnicity. In addition, Vouched uses machine learning models to analyze multiple factors such as IP address, device information, biometric data, and patterns of interaction with the app, which it then aggregates to generate complex risk assessments. These assessments can be tailored to match a company’s risk vision to avoid false negatives or false positives.

Vouched’s user-friendly interface and automation aim to reduce costs associated with manual processes and reduce errors that lead to fraud. It can also help financial institutions comply with regulations around identity verification and customer due diligence. As more customers transition from traditional banking practices toward online platforms, demand for robust identity verification is also on the rise. The latest funding Vouched has secured will help the startup scale-up its platform and grow its customer base, the benefits of which could rapidly reach millions of consumers worldwide.

In conclusion, Vouched has taken a significant step forward with this round A financing, which will enable the fintech to continue developing innovative solutions to the financial industry’s pertinent questions around identity verification. Vouched’s AI-based authentication technique, combined with its user-centric approach, creates a product that helps financial institutions increase safety, maximize accuracy while accelerating the onboarding process.

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