(MENAFN - Investor Brand Network) PayPal (NASDAQ: PYPL)
subsidiary PayPal Ventures recently joined a $30 million Series B funding round for Bureau, an AI-driven fraud prevention and risk intelligence platform, according to a press release on Dec. 18, 2024. The funding round, led by Sorenson Capital, also saw contributions from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.

Bureau has achieved a threefold increase in revenue since its last funding round, a testament to the growing demand for advanced fraud prevention technology. The new funding will support Bureau's product development and global expansion to tackle increasingly sophisticated cyber threats.

In the press release, Bureau founder and CEO Ranjan Reddy highlighted the company's mission:"Bureau was born from my experience as a victim of cyber fraud. We're building the most comprehensive, proactive solution to secure the digital customer journey." Bureau's platform integrates device intelligence, behavioral AI, identity data, and predictive modeling, empowering businesses to counter fraud across the customer lifecycle. Its identity knowledge graph now encompasses over 500 million identities and behavioral patterns.

Sorenson Capital Partner Rob Rueckert, quoted in the release, noted,"Bureau uses a unique combination of device, behavior, financial, and partner data to quickly block scammers without creating deal-breaking headaches for users."

As of Dec. 23, 2024, PayPal Holdings traded at $86.50 per share, reflecting a 0.73% decline from the previous close. The stock's intraday range spanned from $85.99 to $87.40.

PayPal Ventures' investment underscores its focus on fostering innovation in digital payments security, reaffirming its role in addressing the global challenge of cyber threats.

To view the company's latest earnings release, visit

About PayPal Holdings Inc.

PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling and shopping simple, personalized and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit
.

About CurrencyNewsWire

CurrencyNewsWire
("CNW") is a state-of-the-art digital hub that aggregates and disseminates news and information covering the fast-moving financial markets. It is one of 70+ brands within the
Dynamic Brand Portfolio
@
IBN
that delivers:
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact;
(4)
social media distribution
via IBN to millions of social media followers;
and (5) a full array of tailored
corporate communications solutions . CNW covers companies, currencies and events that impact traditional fiat currencies and their market dynamics; cryptocurrencies, blockchain technologies and digital assets; the Federal Reserve's policies and their influence on financial markets; global economic and monetary trends and their far-reaching influence; regulatory changes and their implication; as well as banking, finance, financial innovations, and investment strategies.

CNW is the central platform for understanding the multifaceted world of currencies and finance.

For more information, please visit

Please see full terms of use and disclaimers on the CurrencyNewsWire website applicable to all content provided by CNW, wherever published or re-published:
/Disclaimer

CurrencyNewsWire
Los Angeles, CA

310.299.1717 Office
[email protected]

CurrencyNewsWire
is powered by
IBN

MENAFN23122024000224011066ID1109024542

COMTEX_461167782/2604/2024-12-24T03:20:09