An emerging financial technology startup has secured US$6 million in seed funding.
Toronto-based Tuhk, pronounced “tuck,” secured the capital from FINTOP alongside Lloyds Banking Group and Capital One Ventures.
Founded this year, Tuhk is launching its platform to revolutionize payments by enabling secure, real-time collaboration among merchants, banks, and service providers in order to combat global cybercrime, which currently costs businesses more than $10T annually worldwide according to data from Cybersecurity Ventures.
Tuhk’s distributed platform transforms fragmented data into a cohesive intelligence network, designed to proactively neutralize fraud, maximise transaction approvals, reduce chargebacks, and streamline dispute resolution, according to cofounder Andre Edelbrock.
“By enabling secure data exchange and coordinated decision-making, the platform helps reduce fraud losses, streamline dispute resolution, and support faster, more reliable payment approvals,” says the chief executive officer. “With these resources, we look forward to expanding the platform’s reach and delivering practical, scalable solutions that strengthen the global payments ecosystem.”
The funding will be used to supercharge Tuhk’s imminent launch in the UK, US, and Canada, according to Edelbrock, deepening integrations with financial systems to enhance risk decisioning and customer experiences while fortifying the ecosystem against emerging threats.
“This funding round represents an important milestone for Tuhk,” he stated, “and we are grateful for the support from partners like Lloyds Banking Group, Capital One Ventures, and FINTOP.”
“Their investment reflects shared confidence in our approach and provides valuable strategic guidance as we advance our work together,” the CEO remarked. “The capital will accelerate development of our collaborative technology platform, designed to connect financial institutions and businesses in real time.”
Liz Ziegler, Fraud Prevention Director at Lloyds Banking Group, suggests that “collaboration is the only way we combat the increasing global threat of fraud and stop it from happening in the first place.”
“By accelerating the secure sharing of data and information, we’ll collectively be in a far stronger position to stop the bad actors whilst ensuring a safer system for our customers,” Ziegler stated.
Tuhk “has a bold vision to redefine fraud prevention through collaboration,” agrees Nathan Krishnamurthy, partner at Capital One Ventures. “It unlocks a powerful multiplier to help prevent credit card fraud and disputes, by connecting signal data for scaled impact across the payments landscape.”
Robin Scher, Head of Fintech Investment at Lloyds Banking Group, says the partnership with Tuhk “reflects our shared commitment to developing innovative tools and harnessing cutting-edge technology to enhance the industry’s ability to tackle financial crime and protect customers.”
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