Pasabi secures a multi-million-dollar investment from VeUP to fund global expansion.
The investment was provided by VeUP from its growth fund to support international expansion and product development.
Pasabi is a trust and safety platform based in Edinburgh that uses behavioural analytics and artificial intelligence to tackle online fraud and fake reviews.
Edinburgh trust and safety platform Pasabi has secured a multi-million-dollar investment from global technology consultancy VeUP. The capital originates from VeUP's €100m growth fund, which backs independent software vendors utilising Amazon Web Services.
The firm will direct the funds towards establishing new business hubs in the US, UK, and Portugal, alongside recruiting specialists in engineering, product development, sales, and marketing. Additionally, the company plans to launch an updated iteration of its software on the AWS Marketplace.
Pasabi addresses the growing issue of online fraud and fraudulent reviews through its behavioural analytics technology. The raise follows recent warnings from company leadership regarding the escalating threats of digital scams and fake content.
From the founder
"These are incredibly exciting times for Pasabi, and this investment will allow us to turbocharge our offering, expanding our reach in the fast-growing trust and safety software market at a time when fraud attacks and fake reviews are wreaking havoc online. In the era of Generative AI, people will no longer be able to rely on the authenticity of the content they consume. Only solutions like Pasabi’s, that focus on behaviours over content to detect bad actors, will allow platforms to provide safe environments for their users."
Chris Downie
CEO and Co-founder at Pasabi
Investor perspective
"Pasabi is a powerhouse of technology innovation and the company’s unrivalled solution is set to make waves in the trust and safety software market. We are very excited to announce this new investment partnership and look forward to working closely with Chris and the Pasabi team to accelerate the company’s global expansion."
Alexander Dick
Executive Chairman, VeUP
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
- 04Invest in sales and marketing