One year after its last major acquisition, Visa has returned with another strategic move in the AI space.
Visa announced that it is acquiring Featurespace, a company specializing in AI-powered payment protection technology. While the financial details of the transaction have not been disclosed, sources close to the matter estimate the deal’s value to be between $700 million and $950 million.
The acquisition is expected to close by 2025, pending regulatory approvals. Visa aims to leverage Featurespace’s expertise in fraud detection and risk scoring to enhance its own offerings in these critical areas.
Founded in 2008 by Bill Fitzgerald and David Excell in Cambridge, Featurespace utilizes artificial intelligence to safeguard payments in real-time. The company has raised $108 million in funding from investors such as Imperial Innovations, TTV Capital, Highland Europe, Future Fifty, Insight Partners, MissionOG, and Chrysalis Investments.
Featurespace serves a variety of major clients, including HSBC, NatWest, TSYS, Worldpay, Danske Bank, Edenred, Permanent TSB, and Akbank.
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