With fraud predicted to cost US$10.5 trillion in 2025, it's more important than ever to enable organisations to protect their customers whilst still driving business growth. And the market agrees - we are incredibly excited to announce that we have received $23M in our latest funding round.
This now brings our total series A funding to $45.7M - the largest amount of capital raised by an Australian RegTech. You can read the coverage in multiple publications including the AFR, TechCrunch and Tech In Asia.
We are beyond excited and grateful for the support from existing and new strategic investors. This round was again led by AirTree Ventures and Greycroft and included renewed support from Reinventure, Tidal Ventures and Apex Capital Partners.
This reinvestment signals a doubling down on FrankieOne and acknowledges the importance investors (and the industry) are placing on compliance and fraud detection solutions. And the entrance of new strategic investors - Binance Labs and Kraken Ventures reflects the industry trend for crypto businesses focussing on compliance and mitigating risk.
The support from our investors, coming despite the significant dip in available VC funds globally, will give assurance to our customers that we’ll continue to grow and build an even more robust identity verification and fraud detection ecosystem to better serve you.
The below few milestones highlight why FrankieOne is trusted by market leading investors and customers:
- We experienced 4,743% growth over three years which awarded us 2nd fastest growing tech company in Deloitte's Tech Fast 50 Australia.
- We continue to be the most awarded RegTech in Australia, our most recent accolades include being awarded Excellence in RegTech by Fintech Australia and Exporter of the Year by the RegTech Association.
- Received a clean SOC 2 Type 1 attestation report
- Doubled the size of our team in 2022
- We opened a new office in San Francisco
What our investors are saying -
John Henderson, Partner at AirTree Ventures said:
"We've known Simon and Aaron for many years now and are excited to once again co-lead an investment round and support FrankieOne as they scale and equip more companies with the tech to simplify and enhance identity verification and fraud detection.
"With recent high-profile security breaches shining a spotlight on the responsibility organisations have to protect customers, fraud detection has never been more business-critical. The global fraud detection and prevention market is expected to reach USD 129.17 billion by 2029 and we believe FrankieOne is well positioned to continue to capture the growing market - they continue to impress us with their strong growth, unit economics, and ability to attract some of Australia's largest financial institutions as customers."
Will Szczerbiak, Partner at Greycroft, said:
"Fraud continues to be a major issue in digital transactions. FrankieOne is providing critical infrastructure to address this via their unified API, which seamlessly integrates data from leading identity and fraud providers across the globe.
Over the past year since our initial investment, we’ve seen that FrankieOne’s product resonates with a wide array of customers, from regional banks to market leaders such as Westpac, Pointsbet, and Shopify. We’re excited to support their next phase of growth as FrankieOne continues powering identity verification and fraud detection for a growing number of businesses globally."