Fruugo has deployed Detected, the only global KYB (know your business) platform for marketplaces, to streamline its seller onboarding. Detected unlocks instant intelligence on over 250 million companies in 160 countries worldwide, enabling Fruugo to verify global sellers as it onboards them.
This is a big deal for Detected, who recently announced completing their latest funding round of £900k, bringing the total invested to £2M. The reason it matters is that Fruugo is the first major mainstream marketplace to implement their technology and marks a quantum leap in their customer credibility and provides a stepping stone to more marketplaces signing up to their services to robustly verify global sellers.
Fruugo provides its international customer base with access to 29 million product SKUs from over 1,400 retailers in 42 countries. Just last year, Fruugo achieved 100% year-on-year growth to serve 2 million shoppers worldwide. Using Detected’s AI-powered Search Function, Fruugo is able to screen new sellers instantly whilst gathering KYC (Know your customer) and KYB compliant data at the point of onboarding.
Detected’s Find Algorithm scans billions of data points to append and standardise marketplace seller data. The company’s proprietary technology means that it requires the least amount of company information on the market to match and fill business seller profiles.
“As a trusted platform for conducting commerce, it’s important that we verify the identity of who we’re trading with, especially as we scale the number of retailers on our platform. We are delighted to invest in Detected and use its platform to onboard new high-quality sellers and offer our customers a more diverse range of products from across the globe.”
– Håkan Thyr, Chief Revenue Officer, Fruugo
“At Detected, we are unmatched when it comes to foreign, hard-to-access and emerging market business data. We’re pleased to support Fruugo with its KYB requirements and to help the marketplace trade in new markets with confidence.”
– Liam Chennells, CEO, Detected
