The Consumer Financial Protection Bureau (CFPB) is taking action against credit card late fees, aiming to return more than $14 billion to working people. Meanwhile, Spade, a company specializing in credit card fraud detection, has raised $10 million in a Series A round led by FlourishVC, with participation from a16z, GradientVC, ycombinator, Dash Fund, and EverywhereVC. Spade's transaction enrichment API is praised for providing real-time merchant, category, and geolocation details from messy transaction data, addressing the challenge of credit card fraud, which costs consumers $9 billion annually.
Credit card fraud costs consumers $9B annually - a challenge long overdue for a solution. That's why we’re thrilled to lead Spade’s Series A as they equip merchants w/ real-time credit card fraud prevention data. Here’s how & why we’re thrilled to invest: https://t.co/dqD6MhlawC
Transaction data is MESSY (hence often useless!) @spadedata API maps it to a real merchant identities, assigning correct spending categories, geolocation details, and more. Congrats to @Obanmact @TessBloch Cooper Hart & welcome @FlourishVC https://t.co/6SssLz03wX
We @a16z believe Spade to be the fastest and most accurate provider of real-time merchant intelligence for the card ecosystem, and we are thrilled to continue on this journey with them. Also pumped to welcome @FlourishVC to the party and announce a $10M investment for this…
Congrats to the team @spadedata on the $10M Series A! Spade (YC W22) is the next generation of fintech infrastructure. Its transaction enrichment API is backed by real data, turning messy data into merchant, category, and geolocation details in real-time. https://t.co/YRMB1eobFh
💳@Spadedata is revolutionizing credit card #fraud detection. They closed a $10M Series A round led by @FlourishVC with participation from @a16z, @GradientVC, @ycombinator, Dash Fund & @EverywhereVC. 🎉Congrats to @Obanmact, @TessBloch, & Cooper Hart! https://t.co/khp59CUC8A
Spade digs into credit card fraud detection intelligence following new capital raise: https://t.co/nMmEvjkQhA by TechCrunch #infosec #cybersecurity #technology #news
Spade digs into credit card fraud detection intelligence following new capital raise https://t.co/E5x4Rif6Ld by @christinemhall
Last year, credit card companies scooped up more than $14 billion in late fees to pad their profits. I'm grateful that the @CFPB is taking on credit card junk fees to give that money back to working people. https://t.co/AKu2pXNdSL