Singapore-based global online fraud management company CashShield has raised a $20-million Series B round, co-led by Temasek and early backer GGV Capital.

In a statement, CashShield said the latest funding round, which was joined by Tony Fadell, Wavemaker Partners and Tao Zhang, brings its total financing to date to $25.5 million.

The latest funding will be used to strengthen CashShield’s end-to-end fraud management technology to provide more comprehensive fraud screening abilities for businesses, financial institutions and government organizations, the company said.

Founded by CEO Justin Lie, CashShield is a fully machine-automated fraud management solution that uses AI and Wall Street trading tools powered by proprietary high-frequency trading algorithms, real-time pattern recognition, and passive biometric analytics.

“CashShield eliminates the need for any human interference such as data scientists or fraud analysts to detect and prevent online fraud, as the algorithms are able to self-learn in real-time,” the company said.

Since launching in the United States a year ago, CashShield said it has gained significant traction in the market, adding Yamibuy and Scalefast, among others, to its global clientele.

To date, CashShield claims to have secured more than $5 billion worth of transactions and over 10 million user accounts.

“The ability to use first-rate technology to solve fraud woes creatively has unlocked tremendous value for enterprises, allowing CashShield to be profitable since the beginning… Investors, too, see the value, and are supporting us in our fight against the online fraud boom,” said Lie.

The company raised $5 million in a Series A round in September, led by GGV Capital with participation from private equity firm Heliconia Capital Management.

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