A Swiss financial technology firm, specialising in fraud prevention, has bagged a large investment and is about to expand its business including in Singapore.
Switzerland’s NetGuardians, a fintech with expertise in fraud prevention and risk mitigation, has announced a Series C investment of 8.5 million Swiss francs. The investors in this Series C Funding are Swisscom Ventures and Freemont Management.
The financing will be used to fund NetGuardians’ continued global expansion and for further investment in its proprietary behavioral software platform as the demand for effective financial crime prevention grows worldwide.
Singapore Expansion
Over the past 18 months, NetGuardians has acquired 20 new clients worldwide, opened new offices and recruited local teams in Singapore and in Kenya, and doubled its number of employees to 40.
The firms behavioral analysis software solution is now used by financial institutions in 14 countries in Europe, the Middle East, Africa, and Asia.
«This collaboration with Swisscom represents recognition from a leader in the Swiss market. We are thrilled that they are recognizing our success and our potential. The investment will help us double the headcount in the coming 18 months.» said Raffael Maio, NetGuardians COO.
