Featurespace Set for Potential £700M Sale to Visa
Hey FinTech Fanatic!
Visa is in advanced talks to acquire Featurespace, a Cambridge-based fraud detection company founded in 2008, with a potential valuation of around £700 million.
The company, backed by the late tech entrepreneur Mike Lynch, specializes in machine learning software for fraud prevention, serving clients like HSBC and NatWest.
Lynch, who passed away recently, was a significant figure in British tech, having invested in Featurespace and served as a non-executive director for over a decade. Although the deal is not yet finalized, it underscores Lynch's legacy in supporting successful UK startups.
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