New incubator company wants to stop billion-kronor fraud

Invoice fraud and fake payments are among the most common — and fastest-growing — financial crimes in Sweden. At the same time, many firms lack systems that catch risks early enough. Umeå-based startup Vidd wants to change how companies control their payments, and has been accepted into Uminova Innovation’s incubator.

Read the full article on Uminova Innovation: Nytt inkubatorbolag vill stoppa miljardbedrägerier – “inget ska slinka igenom”.

Closing a growing security gap

Vidd has built a digital service that analyses payments and suppliers to surface risk before money leaves the account. The solution is aimed primarily at SMEs and accounting firms — organisations that often lack advanced security systems. The idea grew out of the founders’ own experience and insights from working life.

What sets Vidd apart from many existing tools is that the service does not only review individual payments, but analyses patterns and connections in the data — integrating directly with bookkeeping systems for deeper checks and a smoother process.

A new step with Uminova Innovation

Being accepted as an incubator company at Uminova Innovation is an important step. For founders Filip Sandström (CEO) and Noah Mannberg (CTO) — who have known each other since secondary school and both have a technical background from KTH — the goal is clear: make payment controls a hygiene factor for every finance function, so nothing slips through.