Acin secures £9.3m in Series A funding led by Notion Capital to expand its risk platform.
The Series A round was led by Notion Capital with backing from Fitch Ventures and several angel investors.
Acin provides a cloud-based network and data standards platform that enables financial institutions to digitise, measure, and manage operational and non-financial risk. The company connects tier-one banks through a collaborative inventory of risks and controls.
Acin has secured £9.3m in Series A funding to accelerate the development of its risk management platform and expand its product offerings. The investment round was led by Notion Capital, with participation from Fitch Ventures alongside angel investors including Cris Conde, Christopher Carter, and Carlos Gonzales-Cadenas.
The capital will be used to enhance the company's cloud-based Terminal with additional inventories of risks and controls, software extensions, and integrated benchmarking tools. Acin plans to extend its front-to-back-office solution across further sectors over time following widespread adoption among major financial institutions.
From the founder
"The need to digitise operational and non-financial risks is now more important than ever for the financial services sector, with the Covid-19 crisis shedding fresh light on the need for data to manage existing and emerging risks. We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin’s approach is transformative in its ability to deliver this. This funding will enable us to accelerate our growth to meet the demand and needs of our clients."
Paul Ford
CEO and Founder at Acin
Investor perspective
"Numerous billion-dollar tech companies have been created in Market and Credit Risk but Operational Risk remains under-served, with static data and antiquated processes and systems. As such, Acin’s ground-breaking platform is addressing one of the largest ‘white space’ opportunities in the overall risk landscape and their client list is a testament to the strength of their offering. We at Notion are delighted to be supporting them on their journey to define and lead this category."
Stephen Chandler
Managing Partner, Notion Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Acin
Acin provides a digital data standards and benchmarking platform for operational and non-financial risk.