NetGuardians, a Switzerland-based company offering anti-fraud software for banks, has raised CHF 5m ($5.2m) in a series B round from a consortium including business consultancy Orbium, according to Finextra.
Other investors in the round were SBT Venture Capital, the venture capital unit of Russian part state-owned Sberbank, which last year set up a $100m fund rising to a possible $700 million over three years, and venture capital firm Polytech Ventures, which backs spin-outs from École Polytechnique Fédérale de Lausanne (EPFL) in Switzerland.
Polytech previously invested in NetGuardians’ series A round. The cash will be used to fund geographic expansion and the hiring of additional staff.
Matteo Rizzi, partner at SBT Venture Capital, said: “NetGuardians promises longevity with an innovative solution that meets one of the finance industry’s most critical technological needs.”