The company’s business model works by charging customers for every transaction that they’ve been sent to validate, instead of per subscription. CashShield now wants to use it technology for social media account verification as well, to combat misleading information that is sometimes shared by hacked accounts.
The funding was led by GGV Capital, with participation from Nest co-founder and iPod creator Tony Fadell. CashShield could not share its revenue, but it’s on track to process more than USD 1 billion in GMV this year.
CashShield is an online enterprise risk management company that helps companies manage their payment fraud risks and prevent hostile account takeovers.
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