Cologne-based 4Stop, a global KYB, KYC, compliance and fraud prevention provider, has announced the closing of a €2.2 million Series A Round investment round from Ventech.
The global growth of online transactional engagement paired with increasing fraud rates, identity thefts, and the continuous evolution of the regulatory requirement landscape makes it imperative for online businesses to implement a solution that future-proofs their compliance and fraud defense.
4Stop saves businesses time and money underwriting merchants by managing their anti-fraud processes and eliminating the need to integrate multiple third party KYC data sources.
“This is another major milestone for 4Stop, one that we are all very proud of achieving and a true endorsement of our business and technology potential,” said Ingo Ernst, CEO of 4Stop. “We are very excited to take this opportunity to expand our business, team and our KYB, KYC and anti-fraud technology solutions. Allowing us to further facilitate modern, leading-edge risk-based management, from a single API solution.”
“We provide businesses with near real-time KYB, thousands of global data points, hundreds of KYC data sources and leading-edge, smart anti-fraud technology, all from a single API integration,” added Ernst. “Ensuring the most efficient, optimal data experience and future-proofed risk management processes are obtained. Bringing confidence to every merchant onboarded through to their customers and associated transactions, empowering and accelerating business performance.”
4Stop received the “Best Financial Transaction Security Platform” by Fintech Breakthrough Award earlier in 2019 and received “Best Risk Management Solution Provider” in 2017 and 2018. The startup’s solution has already been implemented by global payment and crypto leaders including Mifinity, Paymentz, Paysend, Gatehub and Draglet.
“We believe 4Stop has only begun to realize its great potential and is well on its way to turning the burden of compliance into a driver of business operations excellence in the payment and fintech industry; Ventech is thrilled to partner with 4Stop in their next chapter,” said Ventech Principal Stephan Wirries. “We look forward to leveraging our broad and strong investment expertise and 20+ years of experience internationalizing of early-stage companies.”