MetaMap, a San Francisco-based security management startup supporting service providers in serving more customers with the help of individualised trust workflows, has raised US$ 70 million in a Series B funding round led by Tribe Capital on 28 December 2021.
Investors: The latest investment round featured Tribe Capital as the lead investor with participation from Titan Capital, Craft Ventures, Alameda Research and angel investor Jerry Murdock. The startup has managed to raise, in total, US$ 86.5 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the funding round to increase its team size by five times and collaborate with crypto exchanges, fin-techs, and marketplaces in 2022.
About MetaMap
Brought to existence in 2017 by Amaury Soviche and Filip Victor, MetaMap provides a range of services such as credential sourcing, fraud prevention, and identity and financial qualification. These offerings are vital for businesses in the digital economy, extending from cryptocurrency and e-commerce to gig work. The firm is developing its flagship tech hub in India, with more than 30 employees working in offices spread across different parts of India. It allows entrepreneurs to screen and evaluate the risk profile of individuals on the basis of several personal merits authenticated by several data points. Developers employing MetaMap can apply custom automated workflows that qualify individuals on any merit at any level of their client journey.
What the Founder has to say: “The world persists in drawing attention towards a borderless and more fluid economy that promotes higher participation from people who have typically been excluded from the global commerce industry. But, the instruments required to achieve the goal have remained absent. The pandemic enabled the development of a borderless economy faster than thought before. However, its actual capability remains untapped due to intense fragmentation.”- Filip Victor, Founder and CEO of MetaMap.
What the Investor has to say: “Deriving the solution for resolving the problem of digital invisibility opens enormous human potential and capital worldwide. MetaMap has implemented an innovative business model for creating trustworthiness online that grows aesthetically.”- Jeff Fluhr, General Partner at Craft Ventures. “It is exhilarating to bolster and invest MetaMap’s vision of building a borderless economy by bringing together the customers on the digital map.”- Bipin Shah, Partner at Titan Capital.
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