Bureau, a Frictionless verification and fraud protection platform, raised a $12 million Series A funding round.
The round was led by Quona Capital, with participation from Commerce Ventures, Okta Identity, and strategic angels Mark Britto, EVP Chief Product Officer at Paypal, and Bobby Mehta, Retd. President and CEO of Transunion.
Existing investors XYZ Ventures, Blume Ventures, Village Global, EMVC, and Sweat Equity Ventures, also participated in the round
The latest funding will be used to enhance the products and establish a wider footprint in India and South-East Asia. The company also plans to double-up on its current capabilities in end-to-end customer on-board and launch solutions including account takeover prevention, transaction monitoring, and solving return-to-origin (RTO), and chargebacks use Cases.
Company: Bureau, Inc.
Round: Series A
Funding Month: December 2021
Lead Investors: Quona Capital
Additional Investors: Commerce Ventures, Okta Identity, Mark Britto, Bobby Mehta, XYZ Ventures, Blume Ventures, Village Global, EMVC, and Sweat Equity Ventures
Company Website: https://www.bureau.id/
Software Category: Frictionless verification and fraud protection platform
About the Company: Founded in 2020 by Reddy, Bureau is frictionless identity verification and fraud protection platform helping businesses automate their decisions onboard good customers, prevent fraud and power seamless user experiences. Bureau secures mobile-first enterprises against new-age cyber fraud, enabling growth. One API onboards and processes fully insured users and transactions. Bureau is ISO 27001:2013 certified. The company has a customer base comprising leaders in fintech and financial services, including Jupiter Money, Goibibo, Aditya Birla Capital, ICICI Prudential, India Gold, and PhonePe.