Effectiv raises an additional $4.5 million in seed funding to expand its real-time fraud and risk platform for financial institutions and fintech companies. Better Tomorrow Ventures leads the round, bringing the company’s total funding to more than $9 million. Effectiv says it serves 15 clients and has processed more than $30 billion in financial products over the past year, and it is releasing DeviceAI to flag suspicious device behavior.

Jul 2023 · TechCrunchNews article

Effectiv raises an additional $4.5 million in seed funding, bringing its total raise to over $9 million. Better Tomorrow Ventures leads the round, joined by Accel and angel investors, and the company plans to use the funding for product development. Its AI-driven platform detects payment fraud and suspicious device behavior; Effectiv reports 15 financial institution and fintech clients and more than $30 billion in financial products processed in the past year.

Jul 2023 · TechCrunchNews article