AimBrain, a London-based startup which uses biometric authentication to tackle FinTech fraud, has announced Series A investment of £4 million, led by BGF Ventures.

Financial institutions have been battling rising fraud levels over recent years, in particular mobile and internet banking fraud.

The AimBrain platform is a deep-learning service that uses behavioural biometrics to track how a person uses a device, such as their typing speed, touch pressure and even how much their hand shakes as they hold it. Facial and voice recognition biometrics can identify a customer based on what they look like and what they sound like.

Andrius Sutas, co-founder of AimBrain, said: “Building our own technology is extremely important because it allows us to fully control our roadmap, deployments and business cases but it does require the best people. This investment will be crucial in helping us to expand our already world-class team.”

Along with BGF Ventures, other investors in the round include Episode1, Entrepreneur First and well-known angels including Simon Rozas, Chris Mairs and Charles Songhurst.

Henry Gladwyn, of BGF Ventures, added: “We are very excited to be working with AimBrain. Their technlology is exceptional and is poised to revolutionise the authentication process for financial services companies. This is an area of great opportunity and we look forward to watching AimBrain grow and succeed.”

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