Futurae secures CHF 5 million to accelerate international expansion

Multiple investors, both new and existing ones, have contributed CHF 5 million to support Futurae Technologies’ next growth plans. These include expanding the team, accelerating international growth and enhancing its fully managed authentication platform.

With its increased security requirements, digitalization continues to advance rapidly, especially in the financial services industry. At a time when secure digital interactions are more important than ever, Futurae's innovative platform addresses the pain points enterprises face with strong customer authentication: exploding help desk costs, customer loss throughout the digital journey, and increased fraud, to name a few.

Over the past three years, more than 100 banks with users across over 50 countries have selected Futurae as their authentication platform. Commenting on their recipe for success, Sandra Tobler, CEO of Futurae, said: “The customer authentication market is stuck with insecure and unusable solutions that dampen user engagement and break the digital journey. The main driver of our rapid growth, besides the high usability and ease of integration, is the fact that we help our customers to massively reduce their high support costs.”

To further strengthen its position and boost growth internationally, the company has secured fresh capital from several investors, including the European leading financial services provider Euroclear and the existing investors AXA Venture Partners, Zürcher Kantonalbank, and EquityPitcher Ventures

The ETH Zurich spinoff will continue its European market expansion, building upon its first banking customers in Germany, France, and Austria. The Futurae platform is also being enhanced with machine-learning capabilities to detect fraud faster and more accurately while supporting customers with what they really need: usable solutions for their users.

Part of its next plan is to grow its team. The new hires will join the company’s team of 19 members and the four founders: Sandra Tobler (CEO), Nikolaos Karapanos (CTO) and Claudio Marforio (COO and head of product).

(Press release/RAN)