On Teusday, CashShield, an online fraud management solution for mid- to large-sized enterprises, announced it raised $20 million in a series B round.
The funding round was led by Temasek Holdings and returning investor GGV Capital. Participants also included Nest co-founder Tony Fadell, another returning investor, Wavemaker Partners and Tao Zhang.
To date, the fraud management startup has raised a total of $25.5 million, including a Series A announced last September.
This latest round of funding will be used to strengthen CashShield’s end-to-end fraud technology to provide more comprehensive fraud screening abilities for businesses, financial institutions and government organizations.
Founded in 2008 and headquartered in Singapore, CashShield also has offices in Europe, China and the United States, where it launched last year and now counts Yamibuy and Scalefast among its users.
The startup claims its technology currently secures about 10 million user accounts and $500 million GMV in transactions each month.
“The ability to use first-rate technology to solve fraud woes creatively has unlocked tremendous value for enterprises, allowing CashShield to be profitable since the beginning,” said Justin Lie, CEO and founder of CashShield. “Investors, too, see the value, and are supporting us in our fight against the online fraud boom.”