Meta has sold Giphy, the animated GIF search engine, to Shutterstock for $53 million in a deal expected to close next month. The sale comes after Meta was ordered to divest Giphy by the U.K.’s antitrust authority, with whom the company had been entangled in appeals processes for months.
Ballerine, a startup that automates key decisions surrounding KYC and KYB obligations for financial firms, has launched. The software uses open source to verify customer data by ingesting information from sources such as websites, social networks and sanctions credit agencies to support customer onboarding, underwriting and transaction monitoring. The platform can also analyse the specific risks involved in lending money to a business. Ballerine has secured $5m in seed funding and is backed by Team8, Y Combinator and Vera Equity.
💰 Ballerine has raised $5m in seed funding, bringing its flavor of open source to risk decision-making software in the finance sector.
🏦 The software helps banks and financial organizations automate key decisions surrounding their KYC (know your customer) and KYB (know your business) obligations.
🌐 The platform ingests data from websites, social networks, company registries, sanctions credit agencies, PEP databases, among other global sources and integrates various tools.
🔍 The company can verify a customer’s legitimacy and assess the risks, including determining if the business or its owners appear on any government watchlists and if behaviour patterns match those of known fraudulent actors.