Growth Funds for Identity Fraud Specialist PXL Vision

In Zurich, Switzerland, AI-based digital identify fraud prevention company PXL Vision has raised CHF 4.6m ($4.7m) in a seed round of finance, which it will use to expand its product portfolio and enter new markets.

A spin-off of the Swiss Federal Institute of Technology (ETH), PXL Vision offers solutions to automate and improve identity verification and customer onboarding. Its verification platform uses AI to verify a user identity via a 'liveness check' and a face comparison with a video selfie.

New funding was led by SIX Fintech Ventures, with participation from ZKB, High-Tech Gründerfonds, Arab Bank, and business angels Beat Schillig and David Studer, and will also be used to increase the sales, marketing and development teams. PXL Vision CEO and co-founder Michael Born (pictured) comments: 'Having demonstrated that we can compete against large and established suppliers in a very competitive market, it is now time to expand beyond national borders'.

Web site: www.pxl-vision.com .