BioCatch is a behavioral biometrics company that uses machine learning and artificial intelligence to combat fraud; the company monitors over 5 billion transactions per month and focuses on detection through behavior as opposed to endpoint security; the round was led by Maverick Ventures; American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital and other existing investors also participated in the round. Source
The firm joins Shopify and Paypal in the burgeoning fintech payments race.
The new system is unique, creating a closed network outside of the giants that make POS possible.
Almost a third of venture capital investment in the UK was done by the European Investment Fund (EIF) and since the Brexit decision was made this funding source has been turned off; while the British government has attempted to fill the void they have fallen short; "The pullback of the EIF puts the UK at a structural disadvantage compared to other European countries," Fred Destin, a London-based venture capitalist tells Politico; the EIF accounted for $2.7 billion worth of investment into 144 companies from 2011 to 2015 in the UK; the EIF has said they are just doing more diligence on the companies from the UK but the reality is that they have completely pulled back; the British Business Bank has announced plans to offer over $450 million in investments but venture capitalists have said they are unsure if the government can afford to do this in the long term. Source
Folk2Folk has announced it will be using Microsoft Azure to support its loan management system; use of Microsoft Azure follows recent plans to significantly increase the firm's branch offices over the next two years; firm's business facilitates peer-to-peer lending through branch office locations. Source
Google, Amazon, Facebook and Apple (GAFA) have significant market share and a massive influence; given the needs and demands of consumers it seems likely their services will more broadly integrate fintech offerings in the near future; all four companies have taken some steps to offer financial services and industry analysts are watching them closely for new announcements. Source
