ComplyAdvantage raises £22.6m in Series B funding led by Index Ventures to expand its financial crime detection platform.
Index Ventures led the Series B round with participation from Balderton Capital to support international growth.
ComplyAdvantage operates a global data technology platform that transforms financial crime detection for regulated businesses. The firm supplies real time risk intelligence and screening tools to help enterprises manage compliance obligations.
ComplyAdvantage has secured £22.6m in Series B funding led by Index Ventures, with participation from existing backer Balderton Capital. The capital will be deployed to accelerate the global reach of the company's risk analysis platform. Jan Hammer of Index Ventures joins the board following the transaction.
The firm employs machine learning models to ingest millions of data points daily, screening entities for sanctions, adverse media and other risk factors. The technology aims to reduce false positives and manual overhead for regulated financial institutions.
Founded in 2014, the company now supports more than 350 clients globally. The latest financing follows a period of rapid expansion in the US market and international hubs.
From the founder
"We exist because globalization is intensifying the business problems of trust,"
Charles Delingpole
Founder and CEO at ComplyAdvantage
Investor perspective
"Historically, financial crime tends to run ahead of the means of catching it; remedies have been reactive. Today, the problems are getting bigger, the risks and the penalties are more severe, and the old system can’t cope. ComplyAdvantage has a completely new approach, giving companies the power to get a fast, sophisticated understanding of where their risks lie."
Jan Hammer
Partner, Index Ventures
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
ComplyAdvantage
ComplyAdvantage provides artificial intelligence driven financial crime risk data and detection technology.