Eli Wachs 👣’s Post

#nyctech #nycfintech At it again! Exciting times to do what we do, in the #techcommunity #techecosystem! 💳✨ Spade's Game-Changing $10M Series A: A Deep Dive 🚀🌐 Breaking news from Spade! The #fintech disruptor has just secured a significant milestone—a $10 million #SeriesA funding round led by Flourish Ventures, featuring heavyweights like Andreessen Horowitz, Gradient Ventures, Y Combinator, Dash Fund, and Everywhere Ventures (The Fund). This injection of capital propels Spade into a new phase of revolutionizing #creditcard #frauddetection. Key Insights and Celebrations: 🔍 Swift Fraud Detection, Unmatched Accuracy: Spade's groundbreaking #technology is rewriting the rules of fraud detection, decoding complex #datastrings at lightning speed. Delivering comprehensive #merchantprofiles in under 50 milliseconds with a remarkable accuracy rate of 99%, Spade is setting a new standard for efficiency and precision in the industry. 🌐 Strategic Partnerships Redefining the Landscape: Positioned as a frontrunner, Spade isn't just securing funding; it's securing #strategicpartnerships. Major industry players like Mercury, Sardine, Ramp, and Unit are leveraging Spade's technology to expedite #transactionauthorizations, foster card product #innovation, and fortify fraud detection, with gains exceeding 15%. This cements Spade's role as a transformative force in the sector. 🚀 Fueling Growth with Visionary Leadership: Co-founders Oban MacTavish, Tess Bloch, and Cooper Hart are steering Spade toward unprecedented #growth. The funding influx is earmarked for doubling the team, expanding global outreach, and deepening engagement within the #banking #bankingindustry. Exciting times lie ahead as Spade transforms the landscape of credit card technology. 🤝 Acknowledgments to Industry Leaders: A special acknowledgment to Jenny Fielding and Scott Hartley for their support and insight in shaping Spade's journey. The #collaborative spirit and #mentorship from industry leaders contribute significantly to Spade's ascent. In celebrating Spade's triumph, we acknowledge the pivotal role of #visionaryleadership, #strategicpartnerships, and groundbreaking technology in reshaping the fintech narrative. Here's to Spade, the architects of innovation in fraud detection! 🎉💼 #FintechInnovation #FraudDetectionRevolution #CreditCardTechnology #SeriesAFunding https://lnkd.in/exxibC44

People wonder why I expose fraud & deception in startups despite personal attacks from bad actors. This message is why. First it was BNPL, then it was payday lending, then fintech after fintech coming up with new ways to screw good people out of their money, time & well-being, each with strategies to appeal to more & more vulnerable people, each wrapped up in a pretty pitch deck VC's just keep buying into. In 2022, I condemned a disgusting startup in an article for its use of complex financial instruments to exploit desperate retail customers. Many shared my disgust towards the company, its founders & investors. The ecosystem had bought it. But I was astounded by the media's lack of critical analysis. So I covered it. The founder messaged me, trying to manipulate me with his narcissistic spin. I’ve met some intelligent people. He wasn’t one of them. His manufactured reality was laughable. So I ignored him. A week later a team member messaged offering to help clear the air & introduce me directly to the founder sitting in my inbox. I ignored them. There was no air to clear. It was financial extraction of the highest order and I suspected they’d been conned too. At SXSW 2023, an investment banker waited for me after my panel: 'finance industry emergency: a threat to our future'. He'd been deeply disturbed by a company marketing a high risk credit default swap to retail customers & he asked if I’d heard about it. I had - my inbox housed its perpetrator and, as it would turn out, its victims. Then the company started running fraudulent ads of a digitally altered article by a well known masthead. The masthead was pissed. So they wrote about it. The frauds were exposed & I thought that’d be the end of the story. But It wasn’t. Last week I got this message. From a victim. I hate being right about these companies. I HATE it. But its frequent. We NEED to wake up. The startup industry’s support of extractive businesses has real victims and does very real damage to good people - people who want to believe in the hope & wonder of this industry, in its potential for change. Bad actors prey on that, and it's why I expose them. It’s time we all did. It's time investors took responsibility for enabling them. It’s not hard to run founders through psych testing to make sure they aren’t wired to harm people before you give them millions to build a gun they were always going to aim at society for their own benefit. Deferring any and all criticism of startups & reducing their harm to 'people having a go' is pervasive, and dangerous. For years I’ve been a pseudo Grapevine for people harmed by this industry. I shouldn't have to be. It's time we stop hiding behind the toxic positivity of startup propaganda & demand more from the companies and people we celebrate in articles they're happy using to perpetrate fraud against our society and their own good people. Founders, just be honest 👍

Closinglock, a pioneering fintech and fraud prevention technology provider for real estate, led by Co-founder and CEO Andy White, Ph.D., has secured $12 million in Series A funding to revolutionize fund and information transfer within the industry. Grateful for the support, White underscores the team's dedication and expertise, emphasizing the relevance of their solutions in combating real estate fraud. #PropTechBuzz #Closinglock #SeriesA #Funding #RealEstate #Fintech #FraudPrevention #Technology #Investment #Startups #Entrepreneurship #Innovation #VentureCapital #TechNews #BusinessNews #FinancialServices #Security #Cybersecurity Read more-https://lnkd.in/gNPiRgzg ---------- If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

The Spade team is proud to announce that we’ve raised a $10M Series A led by Flourish Ventures with continued participation from Andreessen Horowitz, Gradient Ventures, Y Combinator, Dash Fund, and Everywhere Ventures (The Fund). This marks an important milestone for Spade as we continue to grow and provide real-time merchant intelligence for the card ecosystem. We wouldn’t be here today if not for our supportive investors, stellar team, and innovative customers such as Sardine, Mercury, Ramp, Unit, and more. Check out our article in TechCrunch to learn more about how Spade’s enriched data on card transactions helps issuers detect fraud (improving accuracy of fraud models by >15%), prevent false declines, reduce disputes, and more. https://lnkd.in/egQ7Pgad Are you ready to improve your fraud models and innovate new products? Reach out to sales@spade.com!

Fraudsters are getting savvier, using sophisticated tactics to carry out identity theft. But their true intentions often remain hidden behind a seemingly legitimate facade. Don't let fraudsters slip through the cracks. Verify every customer, and sign-up with Identitypass Learn more: docs.prembly.com Get started today: account.prembly.com #Identitypass #kyc #fraudprevention #startups

"IN THIS MARKET??" is the #1 thing we heard this year. As we announce & celebrate Carefull's A Round capital raise today in TechCrunch, I'm reminded of how Max Goldman and I heard that phrase daily. "Pretty ambitious IN THIS MARKET." "Might want to think hard about THIS MARKET." "Are you sure, in THIS market?" But: it was always the wrong question. Carefull wasn't raising IN this market, we were raising FOR this market . . . for the 45 million people coordinating finances for an aging loved one. For the banks, advisors and insurers safeguarding the $84 trillion of wealth transfer amid $37 billion of elder fraud and financial exploitation. We're extremely grateful to have the opportunity to keep building for this deeply underserved market- to take better care of the generation that took care of us.  Proud of the entire Carefull team, which has worked tirelessly to lay the foundation for what's to come. Excited to be partnered with Fin Capital, Bessemer Venture Partners, TTV Capital, Montage Ventures, Commerce Ventures, Springbank, Alloy Labs, Northwestern Mutual Future Ventures and so many others who share our relentless focus on this challenge. If you share the same focus, come partner and work with us. IN THIS MARKET??  Hell yes.

Lynx Tech Announces €17 Million (c.£15 Million) Funding Round Led by Forgepoint Capital to Combat Fraud and Financial Crime Lynx, a leading provider of AI software that detects and prevents fraud and financial crimes, today announces a €17 million (c.£15 million) Series A funding round led by Forgepoint Capital, a leading venture capital firm focused on cybersecurity and digital infrastructure software, with the participation of Banco Santander, a Lynx shareholder. Forgepoint Managing Director Leo Casusol will join Lynx’s Board of Directors. Dan Dica, Chief Executive Officer, Lynx, comments: “I am privileged to be working with Carlos and our extraordinary and passionate team, forward-looking clients, and supportive investors and Board who recognize the power of the Lynx platform and the critical problems we are out to solve. Together, we will continue to advance our platform capabilities to better serve our clients across the globe in the enduring fight against fraud and financial crime.” https://lnkd.in/e47pHQhK Julio B. Leo Casusol Mario Ledo Hernansanz Julie Albright Alberto Yépez Andrew McClure Don Dixon Lisa Lee Tanya Loh #FFNews #Fintech #FintechMagazine #FintechFinance #Paytech #PaytechMagazine #Insurtech #InsurtechMagazine #KYC #Lendtech #Regtech

Innovative firms serving the back office needs of Wall Street and other large enterprises continue to prosper, with promising new startups in a crucial niche–fraud prevention–sprouting.

Carefull, a pioneering fintech platform, has just raised an impressive $16.5 million in a Series A round! Led by Fin Capital and featuring investors like TTV Capital, Bessemer Venture Partners, and more, this funding will be a game-changer for the NYC-based company. Co-founded by Todd Rovak and Max Goldman in 2019, Carefull focuses on protecting the financial interests of senior citizens, who are often more susceptible to fraud and scams. Financial exploitation of older adults ranges from $2.9 billion to $36 billion each year, making platforms like Carefull crucial. Carefull's innovative approach scans customers' financial accounts for unusual activities related to aging and offers identity and credit monitoring, home title reviews, and $1 million in identity theft insurance. With over 35 customer institutions already on board, Carefull is making a significant impact. This insurtech platform is reshaping the way we address financial protection for older adults, offering caregivers and family members a safer and more efficient way to manage their loved ones' finances. Kudos to Carefull for making a difference in the lives of seniors and their families! #Carefull #Fintech #SeniorFinance #Innovation #FinancialProtection

💳✨Exciting news from Spade as they just announced closing a $10 million Series A funding round led by Flourish Ventures with participation from Andreessen Horowitz, Gradient Ventures, Y Combinator, Dash Fund and Everywhere Ventures (The Fund)! Spade is revolutionizing credit card #fraud detection, delivering comprehensive merchant profiles in under 50 milliseconds with an impressive accuracy rate of 99%. Positioned as a leader in the sector, Spade is empowering major entities such as Mercury, Sardine, Ramp, and Unit to expedite transaction authorizations, drive card product innovation, and bolster fraud detection by over 15%. This funding will propel Spade's growth trajectory, facilitating team expansion, global outreach, and deeper engagement within the banking industry. Exciting times lie ahead for co-founders Oban MacTavish, Tess Bloch, and Cooper Hart and the Spade team! cc Jenny Fielding, Scott Hartley #Fintech #FraudDetection #FinancialTechnology #creditcards https://lnkd.in/gStegJ3Z