Online fraud detection startup CashShield, whose clients include Alibaba and Razer, announced today that it has raised a $20 million Series B led by Temasek Holdings and returning investor GGV Capital. Participants also included Nest co-founder Tony Fadell, another returning investor, Wavemaker Partners and Tao Zhang.
CashShield says it has now raised a total of $25.5 million, including a Series A announced last September. Founded in 2008 and headquartered in Singapore, CashShield also has offices in Europe, China and the United States, where it launched last year and now counts Yamibuy and Scalefast among its users. CashShield claims its technology currently secures about 10 million user accounts and $500 million GMV in transactions each month.
The startup says personal account data is much more valuable than credit card information, because it can sell for 60 times more. Some of the Series B will be spent on research and development to develop new tools.
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