The start-up Finovox has raised €1.9 million to become the French leader in document fraud detection
- Finovox analyzes and detects document forgery instantly.
- The start-up is raising funds from Shapr Ventures, SuperCapital, successful entrepreneurs such as Jérôme and Vanessa Proust, founder and board members of Glady (ex-wedoogift) and with the support of the BPI.
- Thanks to this fundraising, Finovox will be able to improve its solution and offer it to all French companies that suffer from fraud.
Paris, October 18, 2022
Finovox, a French start-up specializing in the detection of forged documents, announced today that it has raised €1.9 million in Seed funding, led by Shapr Venture, SuperCapital, successful entrepreneurs such as Jérôme and Vanessa Proust, founder and board members of Glady (ex-wedoogift) and Christophe Henner, ex-president of Wikipedia, and with the support of the BPI.
Faced with an explosion of document fraud (+80% increase worldwide in 2020 and +86% in 2021[1]) exceeding 40 billion euros in annual losses in France, Marc de Beaucorps, Théophile du Portal and Pierre-Alexis Gouzien have developed Finovox, a solution for detecting forged documents. Applicable to any type of document (IDs, invoices, supporting documents, diplomas, etc.) regardless of language or format, their tool analyzes, detects and explains fraud in less than 5 seconds.
With its proprietary technology, the startup offers a two-part solution:
- An API that integrates into each company's information system and enables continuous and automatic analysis of all documents.
- A SaaS solution, analyzing suspicious documents to provide maximum information on fraud via its investigation tools (3D views, highlighting of an area, history of document versions, etc.).
Faced with the expected increase in fraud in a global context of economic tension, Finovox wants to use the funds raised to accelerate its development, both from a functional product and R&D point of view.
Following the recruitment of a dozen expert profiles (doctors, specialized data scientists, tech marketing managers, etc.), the company's ambition is to create the most effective and complete anti-fraud solution on the market.
Finovox is already working on obtaining ISO27001 and ISO27701 certifications, a guarantee of technical and organizational security, as well as the company's commitment to its customers.
Marc de Beaucorps, CEO and co-founder: "The whole team is proud of this fundraising, not only in terms of the opportunities we will be able to realize thanks to the financing, but also for the quality and skills of our shareholders. Each investor is a real asset for the company, both in terms of product and market. Having quality investors is what enables young entrepreneurs like us progress and transform an innovative project into a sector revolution!"
Vincent Bobin, Shapr Ventures: "With Finovox, we have the pleasure of investing in a great team and an innovative technology that addresses a deep market. We are delighted to be part of the adventure to support them as far as possible. "
About Finovox
Founded in 2019 by Marc de Beaucorps, Théophile du Portal and Pierre-Alexis Gouzien, three experts in anti-fraud development, the start-up Finovox has developed a simple and secure software solution capable of detecting forged documents. With its technology, Finovox can reduce document fraud by 6. The start-up's customers include large groups such as Bouygues Telecom, but also SMEs such as iCover, new insurance companies such as Luko and Parachut, and small companies/start-ups such as Codetek, Alvysion and Goodliz.
About the funds
Shapr Ventures :
Shapr Ventures is a Seed fund targeting technology startups in all sectors (except biotech) and post-revenue. They invest from €300k to €1M as lead investor with a follow-on clause on future rounds. Shapr is a startup that finances startups. Raising funds with Shapr Ventures gives access to their entire ecosystem (Shapr Talent, Shapr Founders, Shapr Community...).
Why Shapr Ventures?
"Because we believe deeply in people and that not everything comes down to numbers.
Because we have been dealing with your issues (product market fit, pivoting, scaling, etc.) on a daily basis for 15 years in France and the US.
Because we have built a powerful ecosystem to help you achieve your wildest ambitions.
Because we will feel like a co-founder rather than an investor.”
Super Capital VC :
Super Capital VC launched in January 2021 with over 200 international investors to provide funding and support to high potential startups. Their portfolio includes over 100 startups, in which they have invested from €50k to €300k including Même Pas Cap!, Mobile.Club and TeamOut
"We like ambitious, passionate and rigorous entrepreneurs. We mainly invest in digital companies in the broadest sense (SaaS, platforms, marketplaces, DNVB, applications), both B2B and B2C, often with international potential. We also accompany less scalable but more mature companies to help them gain a leadership position in a niche market."
[1] Source: US Anti-Fraud Agency
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