Financial security firm MetaMap raises Rs. 530 cr for business expansion.

MetaMap, a start-up that helps companies authenticate the identity of their customers, has raised Rs. 530 crore in funding for product development and international expansion.

The capital came in a Series B funding led by Tribe Capital, with participation from Craft Ventures, Alameda Research (FTX), Titan Capital, and angel investor Jerry Murdock, founder of Insight Partners. It increases the total funding of the company--formerly known as Mati--to Rs. 630 crore.

MetaMap offers solutions for fraud prevention, identity and financial qualification, and credential sourcing. These capabilities are crucial for industries in the digital economy, ranging from e-commerce and cryptocurrency to gig work.

MetaMap is building its flagship technology hub in India, with over 30 employees already across offices in Bangalore and Gurgaon. The company said it will increase its headcount fivefold and will form partnerships with Indian fintechs, marketplaces and crypto exchanges in 2022.

BS