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In this article, Pymnts analyzes MetaMap, that has raised $70 million in Series B funding to enhance its operations in India and expand its client base.
The funding, led by Tribe Capital and joined by others like Craft Ventures, propels MetaMap’s total capital to over $84 million.
Specializing in digital trust and reputation management, MetaMap plans to grow its team and serve more clients in fintech and crypto exchanges. This move aims to address the global economy’s evolving needs for trust and reputation tools.
Read the transcript of this article, published by Pymnts on December 28, 2021
Digital Trust Platform MetaMap Raises $70M
The FinTech MetaMap has raised $70 million in Series B funding as it plans to expand its operations in India.
The company, a digital trust and reputation management platform, announced the funding Tuesday (Dec. 28), saying it brings its total capital raised to a little over $84 million.
The funding round was led by Tribe Capital, with participation from Craft Ventures, Alameda Research and Titan Capital, as well as angel investors including Jerry Murdock of Insight Partners.
MetaMap says it plans to put its flagship tech hub in India, boosting its staffing in that country from 30 to 150. The company also plans to add Indian FinTechs, crypto exchanges and marketplaces to its client base in 2022.
“The world continues to gravitate towards a more fluid, borderless economy that fosters greater participation from individuals who have typically been excluded from global commerce,” MetaMap founder and CEO Filip Victor said in a statement. “However, the tools needed to make this vision a reality are still missing.”
Victor added: “By connecting fragmented databases that contain dozens of trust and reputation footprints and building easy-to-use API integrations that service providers businesses, and soon consumers, can tap into, we hope to shine a digital light on the areas of the human map that were previously inaccessible.”
“The world continues to gravitate towards a more fluid, borderless economy that fosters greater participation from individuals who have typically been excluded from global commerce,”
Founded in 2017 by Victor, MetaMap offers services that include fraud prevention, identity verification and credential sourcing for companies in the eCommerce, cryptocurrency and gig work fields. It has a client base of 370 companies, including Binance, Mercado Bitcoin and Allianz.
First formed in California as Mati, MetaMap focused on Latin America, saying last year it would expand into Brazil and Colombia.
“These countries have the highest payment fraud rates in the world, which makes their identity issues the most interesting,” Victor said at the time.
More about MetaMap
MetaMap is the digital trust and reputation layer that powers borderless growth. The company’s tools and APIs provide the infrastructure to transform anonymous strangers into trustworthy individuals in the digital economy. MetaMap offers solutions to builders across the spectrum, from developers tackling high-trust online services to enterprises bolstering their user verification and reputation processes. Founded in San Francisco in 2017, MetaMap now operates globally and is trusted by 400+ customers worldwide. To learn more, visit metamap.com.
More about Pymnts
PYMNTS.com is an influential news and analysis platform focusing on the rapidly evolving world of payments and commerce. It offers deep insights into the developments and trends shaping the future of transactions, from emerging fintech to consumer behavior shifts. As a go-to source for professionals in the industry, PYMNTS provides up-to-date news, reports, and expert commentary, making it a valuable resource for understanding the dynamics of the global payments landscape.
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