Finsphere raises cash to turn your cell phone into a fraud fighter

July 7, 2011

Finsphere has reeled in another $1.75 million in venture capital financing, money that the Bellevue company will use to market and develop its mobile security products. Led by wireless veteran Michael Buhrmann, Finsphere’s PinPoint service matches the location of a consumer’s mobile phone with financial transactions occurring at ATMs, banks or retail stores. If something seems out of whack — for example ATM withdrawals are occurring in San Francisco when your phone is actually in Seattle — alerts are sent out.

The new funding comes on top of an initial $1.75 million financing that Finsphere raised in March. At the time, Buhrmann offered an update on the four-year-old company. Read more>>>>