Monnai Raises $12 Million for Identity and Risk Data Infrastructure

The company will use the investment to accelerate the adoption of its solution among financial institutions and digital businesses.

AI-powered data infrastructure company Monnai has raised $12 million in an equity funding round that brings the total raised by the company to $23 million.

Founded in 2021, California-based Monnai helps e-commerce, financial services, and fintech companies reduce fraud, streamline onboarding, and make more accurate, real-time decisions.

The company has built an identity and risk data infrastructure that provides organizations worldwide with real-time, ultra-low-latency risk signals.

Through built-in back-testing and observability, it also allows businesses to monitor data quality, measure performance, and optimize their models at scale.

Monnai says it processes tens of millions of transactions per month, helping organizations deploy in new markets in days using its hyperlocal infrastructure.

According to the company, its solution provides the necessary data for more accurate and effective AI-based models that power digital onboarding ...