FrankieOne, which has received 15.5 million funds in the A+ Series, has increased its Series A total to $ 30 million.
About FrankieOne’s Investment
Frankie, a Melbourne-based startup, provides an API platform for identity verification and fraud detection. The company recently announced that it added AUD$23 million (approximately $15.5 million) in its Series A+ round. This brings the series A total to AUD$45 million (US$30 million). According to a statement by Frankie, this was the largest VC fund raised by an Australian regtech up to this time.
Led By AirTree and Greycroft
The financing round was led by AirTree and Greycroft, and participants such as Reinventure, Tidal Ventures and Apex Capital were among the participants in the investment round. Additionally, FrankieOne’s new investors include Binance Labs and Kraken Ventures.
FrankieOne, which works with 170 financial institutions worldwide, was founded in 2019 by fintech startups Simon Costello and Aaron Chipper. The company provides a service to connect banking, fintech, crypto and gaming companies to hundreds of data sources. It has increased its revenue 4 times in the last 12 months and says that it has reached customers such as Westpac, Shopify, Afterpay, Binance. Last year, the company doubled its staff and opened a new office in San Francisco.
An Interview
In an interview, Costello said that FrankieOne was born with Chipper from Neobank Venture named Frankie. Costello and Chipper wanted Frankie to differentiate from other companies in the industry with the best onboarding experience using the best identity and fraud prevention tools available. However, when they started working, they found that the process was unnecessarily complicated, requiring multiple integrations. The two, who saw that other fintech companies were experiencing the same problems, founded FrankieOne as a result of seeing such a need. FrankieOne provides a single API that connects more than 350 data sources in 48 countries to streamline regulatory and compliance-related processes.
Simon CostelloCo-FOunder of FrankieOne said: “what sets it apart from its customers to switch vendors to work on frankieone allows you to create dynamic workflows, you can add further signals and fraud in new markets, ensuring our customers can respond quickly to changing business requirements and updated regulations, without taking on any additional work burden,”
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