London-based Detected raises €2.2 from Reuters Ventures and Love Ventures

UK and US-based fintech Detected secured a substantial €2.2M in its latest fundraising round. The investors, including Thomson Reuters Ventures and Love Ventures, have previously invested in the company.

• Investment Goals: The new funding will be pivotal in evolving Detected’s technology and facilitating a growth strategy following a successful 2023.

• Industry Impact: Detected is creating changes in the traditional approach to business, customer, and merchant onboarding, establishing itself as a leader in the rapidly expanding business onboarding industry.

• Recognition and Achievements: The company has won several awards, including the Fintech Innovator Award and a spot in the prestigious Startups 100 Index for 2024.

• Problem-Solving Approach: Detected is taking a novel approach to a $12B-a-year problem in an industry largely dominated by legacy players, garnering the support of enterprise partners and clients.

• Future Vision: Founded in 2020 by Liam Chennells and Peter Youell, Detected is transforming the way companies handle onboarding validation, aspiring to become the industry standard.

• Previous Investments: In the previous year, Thomson Reuters Ventures and Love Ventures invested $3M in Detected to expand its US presence.

Despite the challenging investment climate in 2023 for UK and US fintechs, Detected’s latest funding round showcases the company's consistent momentum.