One of the first startups created in the scope of CMU Portugal Citi Ventures Invests Strategically in Feedzai
Feedzai, one of the first startups created in the scope of CMU Portugal, joins Citi Ventures portfolio, as the venture capital branch of Citibank has announced a “strategic investment”, of an undisclosed amount, in the Portuguese startup.
The decision of investing in the future of the AI-based fraud detection Portuguese startup is explained by Ramneek Gupta, Managing Director and co-head of Venture Investing at Citi Ventures: “As cyberattacks become increasingly sophisticated, investing in technologies that have the potential to advance security for our customers’ financial lives is a priority.”
Feedzai applies machine learning technology to large data sets to detect anomalies and highlight potential cases of fraud associated with banking and shopping. “This investment will help Feedzai continue to develop next generation security services that transcend data and business silos throughout the commerce ecosystem,” said Nuno Sebastião, CEO and co-founder of Feedzai.