RegTech is hot, and will only get hotter🔥; Massive Amazon + Venmo deal 🤯; N26 starts testing Brazil🇧🇷

Good Morning FinTech, 10 November

Good morning Everyone,

And happy Wednesday! Hope you are enjoying your week as much as I do. To make it better, here’s a mix of 3 interesting FinTech stories for today:

RegTech is hot, and will only get hotter🔥

The money💰 New York-based digital identity verification firm Socure closed a $450M round at a $4.5B valuation as more companies go digital and fraud escalates.

The new Series E was led by Accel alongside the funds and accounts advised by T. Rowe Price, among other investors participating as well.

The round comes just 7 months after Socure closed a $100M Series D at a $1.3B valuation. Not too shabby! 😎

The USP 🥊 Socure’s identity resolution engine uses predictive analytics to parse over 8 billion records, providing a multi-dimensional picture of a consumer’s identity for fraud detection purposes, even for hard-to-identify populations, including those who are Gen Z, credit-invisible or new to the country. 

Socure’s customer base includes 12 of the top 15 banks and a roster of fintech companies, online gaming providers, and crypto exchanges — Voyager, Public, Stash, and DraftKings, to name a few.