Thirdfort secures £15m in Series A funding led by Breega to expand risk management platform
The funding round was led by Breega with participation from Element Ventures and various angel investors.
Thirdfort operates a risk management platform combining Know Your Client, Anti-Money Laundering and Source-of-Funds verifications. The company protects property and legal professionals against fraud during major transactions.
Thirdfort has secured £15m in a Series A funding round led by Breega, with participation from Element Ventures and several prominent angel backers. The company will direct the capital towards expanding its product capabilities and growing its footprint across regulated sectors.
The business has experienced significant demand as professional services firms grapple with rising compliance costs and escalating fraud risks in the UK. Thirdfort plans to use the fresh funds to enhance its proprietary risk engine, develop Open Banking payment features, and scale its headcount from 94 to 150 employees.
From the founder
"Having developed a market leading solution for legal and property without the need for institutional money, we felt that the size of the opportunity to expand into new sectors warranted an influx of capital. In Breega and Element we’ve got passionate, smart and supportive funders who we’re so excited to welcome aboard for the next phase of the journey."
Olly Thornton-Berry
Managing Director at Thirdfort
Investor perspective
"For both consumers and professional services, the risk of fraud and the need for compliance represents a massive burden. Consumers need to get verified for every transaction, and regulated professionals spend too much of their valuable time on client verification and compliance."
Maxence Drummond
Principal, Breega
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets