Kyle
Fresh on the heels of news that St. Louis startup Norsecorp entered into a very lucrative partnership with Global eTelecom, the company has reported that they are well on their way to finishing up a $3.5 million dollar round of funding.
Norsecorp provides technology that detects early warning signs of fraud for online transactions. Global eTelecom has a network of over 55,000 merchants nationwide that use their services for ACH and e-check processing. Norsecorp’s technology, when coupled with Global eTelecom, will provide protection from fraudulent transactions that could cost retails a lot of money.
Their software product is called IP Viking.
The Business Journal has reported that Norsecorp has already raised $2.5 million dollars in a round of funding that started on June 29th and expects to close on July 31. According to the SEC the minimum investment in the round is $50,000.
Norsecorp was part of Capital Innovator’s class last year. They received $50,000 in seed funding and also presented at Capital Innovators demo day at the end of the session.
Linkage:
Find out more about Norsecorp here
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