Description of the portfolio company
Founded in 2016, SurePay is a provider of payee confirmation services intended to assure that payments are going to the right recipient. The company assists leading financial institutions and corporates in the process of confirming the intended recipient’s bank account, enabling clients to avoid misdirected payments and significantly reduce payment fraud.
Investment rationale
Since its launch SurePay has carried out over 6bn payment checks. Its solution helps banks and corporates to avoid misdirected payments and reduce payment fraud. For their current c. 40 banking clients SurePay has secured an 81% decrease in invoice fraud.
Quote by management
David Jan Janse (CEO and CO-Founder of SurePay) said: “We are on a mission to protect both our clients and their customers against the growing threat of fraud worldwide, giving them the reassurance that their payments are going to the intended recipient also cross-border and multi- domestic.”