Detected is to partner with Visa to offer businesses a fast, efficient and intelligent business onboarding process. The deal extends Detected’s relationship with Visa but is a first in the US and Canada.
For payment providers around the world, the complexity of safely onboarding businesses has reached a tipping-point. Meeting the commercial imperative to onboard fast, but without a compromise to risk, is says Detected, the new battleground. Moreover, it says that its USP is to offer the right balance between long drawn-out paper questionnaires and process versus a simple digital customer journey.
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Liam Chennells, Detected’s CEO said: “Detected Onboarding Intelligence, stands out by efficiently locating registered companies worldwide with minimal data input. The partnership with Visa and its collaborators marks an exciting opportunity to pioneer advancements in this category.”
Sarah Steele, Senior Director of Visa Small Business Product added: “We’re thrilled to be collaborating with Detected to give Visa small business customers access to streamlined onboarding, while ensuring a safe and compliant ecosystem. Through Detected’s unique intelligence engine and ongoing monitoring capabilities, Visa customers can take advantage of a user-friendly interface.”
Detected’s seed round grows to £6m
Detected was formed in the UK in 2020. It completed a£600,000seed funding round led by Hong Kong based EmergeVest within 72 hours in November 2020. This funding followed pre-seed funding in September 2020. The firm raised a further £900,000 in July 2021. In January 2022, Detected joined the Visa Fintech Partner Connect Program in its Central and Eastern Europe, Middle East and Africa region.
A further £1.5m was raised in March 2022, with another £2.5m raised in January 2023. The last fundraise included investment from Thomson Reuters Ventures and Love Ventures.
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