AVIEL Intelligence Funding News- UK-based AVIEL Intelligence Raises £350K In Pre-Seed Round

The funding round was led by Fuel Ventures, with support from Cambridge Angels and other private investors.

In the UK, financial scams are on the rise. Last year, people lost nearly £500 million to a type of scam called Authorised Push Payment (APP) fraud, where victims are tricked into sending money to scammers. In response, new rules introduced in October 2024 now require over 1,100 payment service providers (PSPs) to reimburse victims, making banks and financial institutions responsible for the losses instead of customers.

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AVIEL Intelligence wants to help solve this problem. Its AI-powered intelligence platform gives real-time scam detection tools to banks and PSPs, helping them spot and stop fraud before it happens. The system is already live and identifying scam networks in action.

AVIEL uses a unique method to fight scams. It creates AI-powered personas that can talk to scammers online. When scammers try to move the conversation to encrypted apps like WhatsApp, the AI continues to chat and gathers important details.

This helps banks learn which accounts the scammers are using, giving them the information they need to spot and block fraud more effectively.

Joe Tallett, Co-Founder and CEO of AVIEL Intelligence, expressed enthusiasm about the funding round, stating, “We couldn’t be more excited about closing our funding round and ramping up our anti-scam activities. With Fuel Ventures supporting our vision and providing the backbone of our funding round, AVIEL can accelerate fast.”​

Mark Pearson, Founder of Fuel Ventures, highlighted AVIEL's unique approach to scam prevention, stating, “AVIEL is tackling one of the biggest challenges facing banks and payment service providers today. The team has found a completely unique angle – using intelligence, not just analytics, to stop scams at the source. Their approach is bold, focused and scalable, and we’re excited to back them at this critical stage.”​

The new investment will help AVIEL grow in the UK and internationally, and continue to improve its product. As banks and financial companies face more pressure to stop fraud and protect customers, AVIEL’s smart and creative approach could make it a key player in the fight against financial scams.

About AVIEL Intelligence

AVIEL Intelligence is a company that helps stop financial scams by using real-time information to stay one step ahead of scammers. It uses AI-powered personas that chat with scammers online and collect important details from the conversations. This helps banks and financial services quickly spot and block fraud.