Telecom fraud is a huge issue that affects numerous telecom operators around the world. Even with advancements in technology, mitigating telecom fraud is not an easy task and most of the currently available solutions can only help alleviate the problem to a certain degree and not entirely terminate it. Enter Calltic, the Belgium-based startup that has developed a new promising technology to detect telecom fraud.
Calltic’s solution for telecom fraud is advertised to outperforming existing CDR based solutions by a notable margin. It enables fraud control in a market which suffers an estimated fraud loss of 5 billion euros worldwide. The company says it is a single solution that is new outside the box technology capable of detecting frauds rapidly, accurately and effortlessly. The startup announced closing its Series A round of funding wherein it secured €1.5 million.
Funding details
As mentioned above, the startup Calltic has raised €1.5 million euros in its Series A round of funding. The funding round was led by Qbic II Fund, which is a strong investor in technology ventures. In addition, Akiles, a Brussels based investment company, pitched in as well, along with Calltic’s previous investors imec.istart and Luc Kindt. With the latest round of funding, Calltic has raised a total of about €2 million for developing its technology and business.
“There was a strong interest in the file because of Calltic’s solid technology and the track record of the management team,” says Sofie Baeten, Managing Partner of the Qbic II Fund. “It is a pleasure to see the great value Calltic’s collaboration with one of our Fund’s university partners (UGent) brings to Calltic’s technological core and its products.”
“We are grateful to both our new and our old investors for their confidence in us and what we have set out to accomplish,” comments Guy Van der Meeren, CEO of Calltic. “We warmly welcome our new investors to join us on this journey to fight fraud in mobile telco operators.”
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