SHERIDAN, WYOMING - December 8, 2025 - Canadian fintech Tuhk Inc. is stepping out of stealth with a US$6 million seed round to turn fragmented fraud data into a real-time collaboration fabric between merchants, banks and service providers, as the payments industry wrestles with a cybercrime threat measured in the trillions of dollars.
Fintech Veterans Target a US$10.5 Trillion Cybercrime Problem
Founded in 2025 by veterans from Ethoca and NuData Security, Toronto-based Tuhk is positioning itself as a "real-time data collaboration platform" at the intersection of fraud prevention and payments optimization. The seed financing is led by FINTOP, with strategic participation from Lloyds Banking Group and Capital One Ventures, signalling early alignment from major issuers and card partners.
The company's thesis is that no single organization can see enough of the threat landscape to stop today's sophisticated attacks. By securely connecting merchants, issuers and service providers, Tuhk wants to transform siloed signals into a unified intelligence network that can neutralize fraud before it hits P&L, while also lifting genuine approval rates and reducing friction for cardholders.
From Fragmented Signals to a Collaborative Intelligence Layer
Tuhk's distributed platform is designed to ingest and normalize data streams from multiple stakeholders, then surface them as actionable intelligence in real time. The goal is to:
- Proactively identify and block fraud and first-party misuse
- Maximize approval rates for legitimate transactions
- Cut chargebacks and downstream dispute volumes
- Streamline investigations and case handling across parties
"This funding round represents an important milestone for Tuhk, and we are grateful for the support from partners like Lloyds Banking Group, Capital One Ventures, and FINTOP," said Andre Edelbrock, Tuhk Co-Founder and CEO. "Their investment reflects shared confidence in our approach and provides valuable strategic guidance as we advance our work together. The capital will accelerate development of our collaborative technology platform, designed to connect financial institutions and businesses in real time. 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. With these resources, we look forward to expanding the platform's reach and delivering practical, scalable solutions that strengthen the global payments ecosystem."
Strategic Backing from Lloyds and Capital One
For early strategic investors, the value lies in amplifying their own fraud and dispute capabilities through collaboration at scale. "Collaboration is the only way we combat the increasing global threat of fraud and stop it from happening in the first place," said Liz Ziegler, Fraud Prevention Director at Lloyds Banking Group. "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."
From an investment perspective, the deal also underpins Lloyds' ambition to shape the UK's fraud-fighting infrastructure. "We're pleased to support Tuhk's growth through this investment, helping them strengthen their presence in the UK and lay the foundations for future expansion. This partnership 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," said Robin Scher, Head of Fintech Investment at Lloyds Banking Group.
Capital One Ventures reads the opportunity in similar terms. "Tuhk has a bold vision to redefine fraud prevention through collaboration. It unlocks a powerful multiplier to help prevent credit card fraud and disputes, by connecting signal data for scaled impact across the payments landscape," said partner Nathan Krishnamurthy.
Go-to-Market: UK, US and Canada First, Global Next
With fresh capital, Tuhk plans an imminent launch in the UK, US and Canada alongside major banks and merchants, using live deployments to validate its model in high-volume, high-risk environments. Early integrations with core financial systems are intended to feed directly into risk decisioning flows, authorizations and dispute management, making the platform part of day-to-day operations rather than a bolt-on tool.
For FINTOP, which led the round, the attraction is the potential to embed collaboration into the payments stack itself. "Tuhk's real-time collaboration platform is a masterclass in that by uniting merchants, banks, and service providers against fraud's relentless evolution, Tuhk doesn't just defend; it redefines resilience, unlocking scalable growth for the entire payments stack," said John Philpott, General Partner at FINTOP.
As cybercrime is projected to reach US$10.5 trillion annually in the coming years, Tuhk is positioning its network as an enabling layer for secure, frictionless commerce-reducing fraud losses while also improving customer experience and approval rates across the ecosystem.
Tuhk is now poised to scale its collaborative model, uniting key stakeholders to tackle the evolution of fraud and drive more resilient growth across the global payments landscape.