FrankieOne, a Melbourne, Australia-based startup that offers an API platform for identity verification and fraud detection, raised A$23 million (about $15.4 million) in a Series A+ round, bringing the total amount raised in its Series A to A$45 million (about $30 million).
Returning investors included lead backers AirTree Ventures and Greycroft, as well as participants Reinventure (Westpac's venture arm), Tidal Ventures, and Apex Capital Partners, all of whom are also existing investors. Binance Labs and Kraken Ventures are two new strategic investors.
The latest round of funding will allow FrankieOne to scale more quickly and expand in North America, Europe, and Asia-Pacific. It will also enable FrankieOne to make a significant investment into its ecosystem of vendors, data sources, and fraud capabilities, enabling it to grow its customer base.
The startup claims to have quadrupled its revenue in the last year, and its customers now include Westpac, Shopify, Afterpay, Binance, Zipmex, and PointsBet. Its team has more than doubled in the last year, and it has opened a new office in San Francisco
Company: Frankie Financial Pty Ltd
Round: Series A+
Funding Month: November 2022
Lead Investors: AirTree Ventures and Greycroft
Additional Investors: Reinventure, Tidal Ventures, Apex Capital Partners, Binance Labs, and Kraken Ventures
Company Website: https://www.frankieone.com/
Software Category: Onboarding & Fraud
About the Company: FrankieOne, founded in 2019 by serial fintech entrepreneurs Simon Costello and Aaron Chipper, connects banking, fintech, cryptocurrency, and gaming firms to hundreds of data sources and works with 170 financial institutions worldwide. FrankieOne is a complete unified Onboarding & Fraud platform that helps banks and fintechs make better decisions using a single API and dashboard to manage KYC, AML, and fraud. It also makes it easier for its clients to scale and onboard customers by providing a better and more cost-effective user experience, whilst also potentially saving them millions of dollars in regulatory fines and protecting their customers from fraud.