Fourthline BV, a financial technology startup based in the Netherlands, has revealed that it has raised €50 million, or USD 54 million, from Finch Capital and other unnamed returning investors.
The startup claims that its platform can reduce the amount of manual work required in the process while detecting fraud with an accuracy of 99.98%. The platform is based on a number of artificial intelligence models that were created in-house.
According to the startup, the models can handle more than 3,500 different document types from 185 different countries. In addition to other fraud indicators, they find forged and altered documents.
Read More: Fourthline bags $54M to ease customer verification for financial institutions
