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FT Partners Advises FRISS on its $65,000,000 Series B Financing Led by Accel-KKR

Overview of Transaction

  • On July 28, 2021, FRISS, the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide, announced it has completed its Series B financing round led by Accel-KKR and endorsed by existing investor Aquiline
  • Founded in 2006 and headquartered in Utrecht, Netherlands, as well as Mason, Ohio, United States, FRISS is the leading AI-powered fraud, risk and compliance solutions provider for insurance carriers
  • The Company is powering the digitalization of the insurance industry through fully automated risk assessment and fraud detection solutions
  • FRISS develops and markets an AI powered anti-fraud software which safely enables straight through processing underwriting and touchless claims
  • FRISS solutions help lower loss ratios, enable profitable portfolio growth, and improve the customer experience

Significance of Transaction

  • The financing will fuel the Company‚Äôs rapid growth with additional product innovations, deep market penetration, and lines of business expansions
  • The transaction is highly significant and will make the Company ready to scale to the next phase of growth, taking their mission of accelerating safe digital transformation throughout the policy lifecycle

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to FRISS
  • FT Partners previously advised FRISS on its acquisition of Terrene Labs in April 2021
  • This transaction underscores FT Partners' deep domain expertise and transactional experience in InsurTech, as well as its successful track record generating highly favorable outcomes for high-growth B2B FinTech companies globally