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Bureau, a fraud and identity platform, has closed a Series A funding round of $16.5 million. The round was led by GMO VenturePartners and GMO Payment Gateway, with participation from existing investors Nexus Venture Partners, Ratio Ventures, Better Capital, and January Capital.
Bureau was founded in 2020 by Ranjan Reddy. The company provides a platform that helps businesses to prevent fraud and identity theft. Bureau’s platform uses a variety of data sources, including device intelligence, behavioral AI, and no-code decisioning, to assess the risk of fraud and identity theft.
The funding from GMO VenturePartners and GMO Payment Gateway will be used to accelerate Bureau’s growth. The company plans to use the funds to hire more employees, expand its product offerings, and enter new markets.
Ranjan Reddy said: “We are excited to partner with GMO VenturePartners and GMO Payment Gateway. This funding will help us accelerate our growth and make Bureau the leading fraud and identity platform in the world.”
GMO VenturePartners is a venture capital firm that invests in early-stage technology companies. The firm has over $1 billion in assets under management and has invested in over 100 companies.
GMO Payment Gateway is a payment gateway provider that helps businesses to accept payments online. The company has over 100,000 merchants and has processed over $10 billion in payments.
The investment in Bureau is a sign of the growing interest in the fraud and identity space. The fraud and identity market is expected to grow to $30 billion by 2025, and Bureau is well-positioned to capitalize on this growth.
Here are some additional details about the funding:
- The round was led by GMO VenturePartners and GMO Payment Gateway.
- Other investors in the round include Nexus Venture Partners, Ratio Ventures, Better Capital, and January Capital.
- The funding will be used to accelerate Bureau’s growth.
- The company plans to hire more employees, expand its product offerings, and enter new markets.
