Fraud and identity management platform Bureau has raised an additional $4.5 million, completing its Series A funding round at $16.5 million, according to a press release. Separately, Google-backed delivery startup Dunzo is planning to raise about $20 million more from its largest shareholder, Reliance Retail, reported The Economic Times.
Bureau closes Series A round at $16.5m
Fraud and identity platform Bureau has raised an additional $4.5 million completing its Series A funding round at $16.5 million, according to a press release.
GMO VenturePartners, GMO Payment Gateway, and existing investors participated in the extended funding round. The company has raised $20.5 million in funding to date.
Bureau has also completed the acquisition of inVOID, a YC-backed identity verification startup. The company plans to leverage the acquisition to enhance its global coverage, widen its IP scope and broaden its tech stack.
“As an investor on both debt and equity sides, it’s clear to us that fraud prevention is a key priority for fintechs today and Bureau is in a great position to become the market leader in this space,” said Ryu Muramatsu, Director, GMO VenturePartners.
Founded in 2020, Bureau provides banks, fintech, gaming, gig economy and e-commerce companies with a complete range of identity verification, fraud prevention and detection, and risk and compliance solutions.
Dunzo seeks $20m more from Reliance Retail
Google-backed delivery startup Dunzo is planning to raise about $20 million more from its largest shareholder, Reliance Retail, reported The Economic Times.
Reliance Retail and Google had subscribed to Dunzo’s fundraising via convertible notes in April this year when the company raised about $45 million.
Currently, Reliance Retail owns a 25.8% stake in the company, while Google holds under 20%. According to the Economic Times, Reliance Retail’s shareholding is expected to go up if the additional $20-million fundraising is successful.
Google invested in Dunzo’s $40-million Series E funding round in January 2021.
Founded in 2014, Dunzo delivers groceries and essentials, fruit and vegetables, meat, pet supplies, food, and medicines in major cities.