BGF Ventures leads funding round for AimBrain
AimBrain, the world’s most advanced biometric identity as a service platform, has secured Series A investment of £4million, led by BGF Ventures.
AimBrain solves the problem of identifying customers of financial institutions across any banking channel, fixing the existing, broken system, which is unsafe and unpopular with customers, and incompatible with global regulations.
Its deep-learning platform provides authentication in a seamless and cost-effective way using biometrics to track how a person uses a device – such as their typing speed, touch pressure and even how much their hand shakes as they hold it.
Facial and voice recognition biometrics can identify a customer based on what they look like and sound like.
“We have built the leading provider of biometric identity as a service,” says Andrius Sutas, co-founder of AimBrain. “We know that financial institutions have a big problem with fraud prevention – and customers are not getting the best experience. That’s why we built a platform that uses behavioural, facial and voice data to identify customers accurately, quickly and securely.”
Founded in London in 2015 by Mr Sutas and Alesis Novik, the company sales offices around the world, including in Johannesburg, Lagos, Dubai and Abu Dhabi.
Peter Reynolds, whose financial services experience includes time at Thomson Financial, Reval, Fundtech and HSBC, was an early investor before taking up the role of chief commercial officer.
Along with BGF Ventures, other investors in this round include Episode1, which led the seed round, Entrepreneur First and well-known angels, including Simon Rozas, Chris Mairs and Charles Songhurst.
Henry Gladwyn, of BGF Ventures, says: “We are very excited to be working with AimBrain. Their technology is exceptional and is poised to revolutionise the authentication process for financial services companies. This is an area of great opportunity and we look forward to watching AimBrain grow and succeed.”
Business funding news
BGF invests £30 million in Yorkshire and North East in active H1
BGF has invested £30 million in Yorkshire and the North East in the first half of 2021, cementing its commitment…
BGF sees business confidence grow in 2021 with close to £33m invested in Scottish firms so far
Throughout the last six months, the investment team for Scotland has invested close to £33 million across 10 Scottish growth…