Seed23 January 2023

Global Screening Services raises £37m from AlixPartners, The Cynosure Group, and MUFG to expand compliance platform

The initial funding round brings backing from major financial institutions to accelerate compliance screening technology.

£37.0MSeed

Global Screening Services develops cloud native regulatory compliance technology for the financial sector. The firm provides collaborative infrastructure designed to improve transaction screening and efficiency.

Global Screening Services has completed an initial funding round of £37m, backed by prominent investors including AlixPartners, The Cynosure Group, and MUFG. The capital will support the company as it brings its compliance screening platform to market and expands its operations.

Originally incubated by AlixPartners, the firm has grown into a standalone entity supporting a full-time team of over 140 staff. The platform aims to reduce friction in international transactions and improve regulatory standards across the banking sector.

From the founder

"Sanctions screening is both an international security imperative and one of the major sources of friction in the global payment system – at a time when consumers and businesses are increasingly demanding real-time settlement . GSS is uniquely position to deliver improved regulatory compliance and an enhanced customer experience. We’re delighted to have closed this funding round and to be working with such incredible partners to take GSS to market."

Tom Scampion

CEO and Co-founder at Global Screening Services

Investor perspective

"Cynosure invests in rapidly growing, founder and management-owned businesses. Within the world of screening, GSS is the right business at the right time, addressing a problem that is well understood but until now, poorly addressed. We are excited to be partnering with Alix Partners and the GSS management team to be a part of this solution."

Randal Quarles

Chairman and Co-founder, The Cynosure Group