London-based Thirdfort secures £15M Series A funding, led by Breega, to tackle the UK’s escalating money laundering and #payment fraud nightmare.
Thirdfort founders Olly and Jack came up with the idea for the business after a friend of theirs was defrauded of £25K when buying a home.
They created Thirdfort to empower consumers and service providers to move fearlessly through life’s big transactions. Their all-in-one KYC/AML and payment solution secures high-value transactions (such home buying, mortgage applications and remortgages).
The technology is underpinned by open banking and artificial intelligence helping them to verify consumer identities in a matter of minutes versus weeks.
Professional service providers or “receivers” such as lawyers or estate agents benefit from a solution that increases their operational efficiency, allows them to be fully compliant and improves customer satisfaction.
Consumers or “senders” use an intuitive app allowing them to be onboarded in a few clicks and send money to the right receiver without any risk. Once onboarding is complete, the user is provided with a reusable KYC/AML passport so they don’t have to repeat the onboarding process for each new transaction.
We’re thrilled to be on the journey with Thirdfort as they continue to expand their footprint in the UK and beyond, as well as scaling their solution from property and law into mortgage broking, accountancy, and wealth management!
