FinTech Company NetGuardians, renowned for its smarter AI-based enterprise risk platform for combating banking fraud, has successfully completed a new round of funding. Investors include Pictet Group and ACE & Company.

NetGuardians raised CHF 17m in new capital, more than the double each of the previous rounds. The funds will be used to support meeting rising demand for its fraud-mitigation software. NetGuardians will do this by strengthening its position in existing markets and further developing its software-as-a-service (SaaS) subscription model. Lead investors include the Pictet Group, a NetGuardians client, as well as private investment group ACE & Company, headquartered in Geneva with offices in London, Cairo, Hong Kong and New York.

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