Portage, a specialist fintech investor, is leading the all-equity investment, with JVP, OurCrowd and other previous unnamed backers also participating. The latest round brings total investment in the fintech to $160 million and follows 10x customer growth over the last two years. ThetaRay’s customers include some of the world’s most significant financial institutions such as Santander, Travelex, Mashreq Bank, MFS Africa and ClearBank.ThetaRay CEO Peter Reynolds says the new funding will be used to accelerate global growth plans and capitalise on surging demand for new AI-based technologies in the $9 billion financial crime fighting market.“Global payment infrastructure too often fails to accurately differentiate between perfectly legitimate transactions and ones from bad actors dealing with illicit funds," he says. "We’re proud to be at the forefront of the revolution to make global transactions easier, safer and cheaper and are keenly aware of the massive vote of confidence this investment is in both our technology and our team.”