Paris-based Prelude has closed $8 million in funding to extend its Fraud-Resistant SMS verification solutions in Europe and North America, which enable global businesses to prevent fraud without overt lengths, and with more cost-effectively.
Paris’s Paris-based Fraud-Resistant SMS Verification provider Prelude has recently secured $8 million in seed round funding from Singular and Seedcamp. Co-founded by former Zenly employees Matias Berny and Quentin Le Bras, Prelude deals with the expensive and insecure solutions of SMS verification. Further, the funding will go towards expanding Prelude and developing new onboarding solutions that will improve and make more secure the process of identifying users that are accessible to global clients.
Approaching the Issue of SMS Fraud and Minimizing Expenses:
For global businesses, the cost of SMS verification is becoming a problem coupled with immense risk, with some companies losing up to 30% of their budgets to fraud. Prelude addresses this with a “smart broker” approach known privately to bypass these expensive channels for verifying the messages. Prelude has been deemed efficient as clients have recorded up to 40% cut in costs, and 95% success in verification.
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Developer Friendly Onboarding and Authentication:
Single-line integration has made development easy. Prelude’s well-developed APIs boost user acquisition, engagement, and prevent fraud effectively. They have been beneficial to organizations such as Sunday, BeReal, and Bitstack and provide solutions to various organizations, with more emphasis on the verification difficulties experienced in sectors including finance, travel, and social services.
Moving beyond Mobile-First Solutions:
In 2022 alone, Prelude has safeguarded more than 100 million accounts from 230 different zones. Having in mind further plans to provide an even more extensive list of APIs, Prelude is capable of emerging as a dominant player in the mobile-first solution for first-time user onboarding and verification thus enabling a safe future for SMS authentication in the world.
