London-founded fintech Detected has announced its expansion into the US market.
The company, which provides a global end to end KYB platform, has “established a US entity to better serve its American clients.”
Since inception in July 2020, Detected claims it “has seen huge growth driven by its innovative approach to global KYB.”
One agreement with Detected “gives access to a global network of data providers as well as a dynamic front end UI which allows collection of information directly from business owners.”
This information is then automatically “connected in the Detected platform to create the most up to date business profile anywhere on earth.”
Heading up Detected’s US operation is Austin Grimes, Head of Global Partnerships. Grimes, who is “based in the US, will work closely with the company’s American partners, including Thomson Reuters.”
CEO Liam Chennells will “continue to split his time between the US and London.”
With Detected’s unique approach, US businesses “can easily navigate the complex KYB process both domestically and internationally.”
The company’s expansion into the US market is “a significant milestone, and its presence will undoubtedly benefit American businesses in a range of industries with existing international clients ranging from Payments and Supply Chain through to Travel and Online Marketplaces.”
Liam Chennells, Founder and CEO of Detected, commented:
“We are excited to expand our services to the US market. It is notoriously difficult for UK businesses to ‘make it’ in the US but we are going to do the same as we have always done, focus on the value the technology we have built delivers for our clients.”
Most recently, Detected “secured £2.5m of funding including investment from Thomson Reuters Ventures, Love Ventures and powerful industry angels, taking their total Seed Round to £6m.”
As noted in the update, Detected is “a London-based fintech that provides frictionless global business onboarding.”
Detected, which was “founded in July 2020, uses a unique algorithm which utilises over 1,700 data sources to create a detailed and accurate profile of any business in the world.”
It supplements this “with information that can be added by the business that is being onboarded.”
In doing so, Detected enables “a frictionless, almost instant, onboarding process. Since its founding, Detected has raised a total of £6 million.”