VC Fund Investments
Fraud analytics player TrustCheckr raises funding from IIFL Fintech Fund
IIFL Fintech Fund has invested in TrustCheckr, a Bengaluru-based fraud analytics solution provider. TrustCheckr will use the capital to scale its usage across banks, non-banking finance companies (NBFCs), fintechs, payment companies and bureaus. Additionally, it will invest in enhancing its existing social scoring and social fraud detection capabilities. Founded by Adhip Ramesh and Shivraj Harsha in 2017. TrustCheckr claims to have a proprietary algorithm tested on over a million data points and used in AI and ML in image comparisons. It assigns a trust score to the user based on phone number, Facebook or email ID. The company claims to have completed over 10 million TrustChecks across more than seven clients.
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