NetGuardians secures CHF 17 million from the Pictet Group and ACE & Company.

NetGuardians, a Yverdon, Switzerland-based developer of real time security solutions, announced that it completed a capital investment round of CHF 17M ($19.2M).

The money was raised from investors led by the Pictet Group, a NetGuardians client, as well as private investment group ACE & Company. The funds will be used to support meeting rising demand for its fraud-mitigation software. NetGuardians will do this by strengthening its position in existing markets and further developing its software-as-a-service (SaaS) subscription model.

NetGuardians, founded in 2007 and led by CEO Joël Winteregg, does software used for fraud prevention for banks. The company developed what they call an augmented intelligence solution made for banks to proactively prevent fraud and which is used by over 50 Tier 1 to Tier 3 banks worldwide to fight financial crime.