NetGuardians, a fintech spin-out of University of Applied Sciences Western Switzerland, has secured CHF5m ($5.2m) in its series B round. Orbium and Polytech Ventures, a firm based at École Polytechnique Fédérale de Lausanne’s (EPFL) research park, returned as investors. SBT Venture Capital also participated.
The company, which markets anti-fraud banking solutions, came out of the incubator at the university’s School of Engineering and Business of the State of Vaud in 2007. Its technology is able to continuously monitor user activities and assess them to identify potential risks.
NetGuardians has grown more than 50% year over year since incorporation has penetrated several European markets as well as entered African, Middle-Eastern and Asian markets. It will use the new investment to expand further internationally and hire more staff.
Raffael Maio, chief operating officer at NetGuardians, said: “We are extremely pleased to have secured this strategic capital support. These funds will help us to accelerate our growth to gain new market shares and reinforce our global presence. The strong expertise of Orbium and SBT in the financial industry will contribute to expand our global presence.”
