UK FinTech Detected closes £2.5m in Financing Round

By Gloria Methri

London-based FinTech company Detected has secured £2.5 million in its financing round, with investments from Thomson Reuters Ventures, Love Ventures, and other industry angels.

Founded in 2020, Detected is known for creating detailed and accurate profiles of businesses around the world. It supplements this with information that can be added by the business that is being onboarded in a white-labelled onboarding flow.

In the latest fundraiser, Thomson Reuters Ventures joined existing investors in the UK, including Love Ventures, Maropost Ventures, and Emergevest. Angels including Huw Slater, COO of TravelPerk; Stephen Garland, former Chief Technology and Product Officer of TrustPilot; and Chairman Rob Barnett, former Chief Operations Officer at RBS also contributed to the funding.

The new investment will enable Detected to capitalise on US growth and continue to drive product innovation, besides team expansion.

Liam Chennells, Founder and CEO of Detected, said, “We have put ourselves in a very strong position to deliver on our ambitious 2023 objectives. I am grateful for the support of our new and existing investors, and we will now continue to show them that they have made a brilliant choice.”

Tamara Steffens, Managing Director at Thomson Reuters Ventures, said, “We are very excited about the Detected investment as it complements our KYB strategy. Their technology is bringing much-needed automation to an underserved portion of the digital identity market. We look forward to working with Liam and the team and introducing Detected to the Thomson Reuters customer base.”

Since being founded, Detected has secured partnerships with financial services heavyweights such as Visa and has seen rapid growth in its customer base.