Feedzai, a Portuguese fintech company based in Coimbra, has become one of Europe’s most valuable tech startups, now valued at €1.7 billion. The company specializes in using artificial intelligence to prevent fraud and has been chosen by the European Central Bank to help protect the digital euro. In 2024, Feedzai’s technology processed over €6.8 trillion in transactions, which led to its selection as the main provider for fraud detection and prevention for the digital euro.
Feedzai, along with PwC, has agreed to a framework deal worth up to €237 million to create an AI-based system that will monitor fraud in real time and make sure it follows EU data protection rules.
CEO Nuno Sebastião said that with tens of billions of transactions expected in the eurozone, having AI that can change and improve as quickly as fraud does is key. He called the project both an honor and a big responsibility.
Feedzai was started in 2011 by Nuno Sebastião, Pedro Bizarro, and Paulo Marques.
The founders combined experience from space engineering and data science. Sebastião left the European Space Agency to work on financial security, while Bizarro, who has a background in education and research, added academic knowledge. The company now works with top investors like KKR and Sapphire Ventures, and partners with major firms including AWS, Deloitte, EY, and PwC. Feedzai is also expanding globally with a new office in New York and a Center of Excellence for Financial Crime Prevention in partnership with PwC Brazil.
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