Fourthline secures €14 million to accelerate its leading position in digital KYC

Fourthline has closed the final tranche of its latest funding round.

Fourthline Forrester TEI thumbnailBy The Fourthline Team

Fourthline is one of Europe’s fast-growing fintech companies, driven by a vision to offer best-in-class fraud detection at industry-leading conversion and compliance levels.

The funding will accelerate the development and adoption of Fourthline’s product offering, which comprises a B2B digital KYC (Know Your Customer) solution for banks, insurers, brokerages and other enterprises that need to authenticate the identity of their customers during onboarding or across the entire customer lifecycle.

Fourthline is part of Safened-Fourthline B.V., which was founded in Amsterdam in 2015. The company’s activities include both digital KYC services (Fourthline), as well as a B2B global liquidity platform (Safened) that provides Basel III efficient deport funding to highly-rated banks. (Editor’s note: Both companies operated under the Safened brand until 2019, when the KYC activities were rebranded as Fourthline). Fourthline’s KYC solution has attracted leading clients in the realms of mobile banking, insurance and more (including N26 and ING, for onboarding of new clients across Europe).

Because Fourthline is a licensed payment institution with full EU passporting rights, other financial institutions can rely on Fourthline for their compliance with European regulations regarding payment services (PSD2), data protection (GDPR) and money laundering (4AML).

The last tranche of this funding round amounts to €7.5 million, bringing the total round to €14 million. The additional funding will be used to support a global roll-out Fourthline’s fast-growing KYC business.

Gabriele Rosati
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