AVIEL Intelligence, a new intelligence-led startup, has officially emerged from stealth, securing a £350,000 pre-seed investment. The round was led by Fuel Ventures, one of the UK’s prominent early-stage venture firms, alongside participation from Cambridge Angels and cybersecurity-focused angel investors.
Launched in 2024, AVIEL Intelligence aims to prevent financial scams before they happen. Its proprietary intelligence engine is already live, delivering real-time scam detection and prevention solutions to banks and payment service providers (PSPs).
The rise in financial scams, often referred to as a “scamdemic” by government and media outlets, has placed significant pressure on banks and PSPs. A regulatory shift in October 2024 now mandates over 1,100 PSPs to reimburse victims of APP (Authorised Push Payment) fraud, effectively shifting liability from consumers to institutions.
This regulatory change has intensified the demand for proactive fraud prevention. AVIEL Intelligence supports high street banks and neobanks by producing immediate, actionable intelligence to prevent scam-related payments before they are processed.
With the new funding, AVIEL plans to expand its go-to-market efforts across the UK and internationally. Key priorities include accelerating the speed and accuracy of scam detection, broadening the range of scams it can identify, and scaling its intelligence delivery operations.
The company’s technology uses a distinctive method: AI personas interact directly with scammers online, even when conversations move to encrypted environments like WhatsApp. This process enables AVIEL to gather intelligence that helps banks identify accounts misused for fraudulent activities.
Founded by a team with backgrounds in cybersecurity, social media monitoring, and alternative finance, AVIEL Intelligence brings a unique blend of expertise. Its leadership includes former Google operators, the former UK director of what3words, and seasoned intelligence specialists.
Joe Tallett, Co-Founder and CEO of AVIEL Intelligence, said: “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, Managing Partner of Fuel Ventures, added: “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.”
In addition to Fuel Ventures, the pre-seed round attracted investment from Cambridge Angels and several individual experts across cybersecurity. AVIEL’s plans include a global expansion of its anti-scam capabilities, aiming to become a trusted intelligence provider for financial institutions worldwide.
