RegTech Detected bags £600,000 in seed capital

From: RegTech Analyst

Business verification platform Detected has secured £600,000 in a funding round led by EmergeVest alongside a smattering of angel investors.

Detected will use the new funds to fuel further product development, continued commercialisation and its global expansion plans.

The round comes after it closed a pre-seed round worth £250,000 in September.  Detected is planning on launching its AI-powered platform in early December.

“To close this round 72 hours after opening it is a pivotal moment for Detected. Particularly as it was led by EmergeVest and included such prominent angel investors,” said Liam Chennells, CEO at Detected. “It demonstrates how strongly business leaders and marketplace operators feel about the solution Detected has developed and the market that it is disrupting. It also endorses our team’s experience, technology credentials and incredible pre go-live commercial progress.”

Heath Zarin, founder and CEO of EmergeVest, added, “EmergeVest is delighted to take the lead investor role at this stage of development of Detected. We view prevention of online fraud as an extremely serious issue and believe Detected has an exciting and disruptive approach that will get widespread market adoption.”

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