Fraugster raises €5 million
The German and Israeli startup Fraugster, which claims to eliminate payment fraud with the help of Artificial Intelligence (AI), raised $5 million (€4.7 million). The round was led by Earlybird. Existing investors include Speedinvest, Seedcamp and a investment group controlled by a Swiss family that wishes to remain anonymous. Founded in 2014, Fraugster will use the investment to hire more employees and expand internationally.
Facebook plans to fight Fake News in Germany
After facing criticism about the platform’s role in impacting the US presidential election, Facebook announced plans to fight fake news. While the social network already implemented changes in North America, it plans to introduce updates to Germany.
[TechCrunch], [Facebook blog post] (German)
Move24 steps back from business in Spain and Italy
The Berlin-based moving startup Move24, formerly Movago, closed its offices in Spain and Italy, and cut down staff. In October 2016, the startup raised a €13 million Series B round from existing investors Holtzbrinck Ventures, DN Capital, Piton Capital and Cherry Ventures. Innogy joined as a new investor.