Anti-fraud tech firm raises £1m

A TECH firm aiming to tackle the 'monumental' multi billion-pound cost of insurance fraud has raised £1m in a funding round.

- By ALISTAIR HOUGHTON

Veridox raised the money in a round led by Outward VC and with participation from Solo Investments Holdings, the investment firm launched by LBG Media founder Solly Solomou.

Veridox was founded by former entrepreneur Dan Sandler, who previously co-founded order and pay app Tabb. He and former Tabb co-founder, Joey Clover, now CTO at Veridox, now manage a team of 13 employees.

The company is launching what it calls an 'AI-powered forensic document and image manipulation analysis platform' to instantly analyse documents submitted as part of insurance claims and to identify any potential signs of fraud.