Shield receives US$20 million investment round
The Israeli Fintech Shield, which has developed an advanced intelligence risk mitigation platform, is to receive a US$20 million (€19M) investment thanks to an investment round led by Macquarie Capital and UBS through its innovation and investment devision UBS Next, and Mindset Ventures and OurCrowd.
This amount is added to the US$15 million raised at the start of the year. These funds will reinforce Shield’s internationalisation strategy in new markets, namely the United States, and assure the investment and progression of its Centre of Research and Development that it set up this year in Portugal.
“The rapid growth of Shield and the needs and challenges that the financial sector currently faces drove this new financing. This fresh investment will benefit the Centre of Research and Development in Portugal which, together with the company’s HQ in Israel, will continue to ensure the development of our platform for our projects and clients worldwide, ensuring the innovation and quality we are recognised for”, says Nuno Hortêncio, Country-Manager of Shield Portugal.
The Shield Hub in Portugal should end this year with a staff component of 20 people. “We are excited to begin working with UBS at various levels as a client and now as an investor in our last round of financing”, said Shiran Weitzman, CEO and co-founder Shield.
“This is yet more proof that there is an immediate need in the market for a modern and proactive solution that enhances the management and tracking of the different channels of communication used by the financial sector. Shield is well placed to meet this need”, he added.
Shield is a leading risk intelligence company that helps global organisations such as inDrive, Alibaba, Mobile Premier League (MPL), TrueMoney, and Maya stop fraud, build trust, and drive growth.
It chose Lisbon this year to set up its innovation hub that will contribute towards the development of solutions for different projects and clients internationally and support the company’s head office in Israel.