Bureau, a fraud and identity platform, has successfully closed its Series A funding round. The company raised $16.5 million, with GMO VenturePartners and GMO Payment Gateway leading the round. Quona Capital and Accel, existing investors of the company, also participated.
With the newly acquired funds, Bureau’s objectives include expanding its global presence, introducing innovative products, and growing its workforce. Bureau is headquartered in San Francisco and operates offices in Bengaluru, Singapore, and Dubai.
Bureau provides a comprehensive platform that automates decisions, streamlines customer onboarding, prevents fraud, and enhances user experiences. Over the past year, the company has experienced impressive six-fold revenue growth and verified over 300 million identities through its platform.
In addition to the funding round, Bureau recently completed the acquisition of inVOID, a YC-backed startup specializing in identity verification. This acquisition allows Bureau to strengthen its worldwide coverage, expand its intellectual property portfolio, and enhance its technological infrastructure.
Given the rising demand for fraud and identity protection solutions, Bureau is well-positioned to capitalize on this market opportunity. Projections suggest that the global fraud market will reach $32 billion by 2025, and Bureau aims to secure a significant share of this expanding market.
