ComplyAdvantage raises an additional USD 20 million from Goldman Sachs
ComplyAdvantage, which uses artificial intelligence to detect financial crime, raised an additional USD 20 million from Goldman Sachs, bringing its Series C funding to USD 70 million.
The Series C round was led by the Ontario Teachers’ Pension Plan Board, with participation from Index Ventures and Balderton Capital. Goldman Sachs added its investment after the original fundraising target had been exceeded.
The London-based startup uses machine learning and natural language processing to help banks, fintech companies and other organisations prevent financial crime and manage risk.
Its proprietary database draws on millions of real-time data points, including adverse news, politically exposed persons and sanctions lists. Customers included cryptocurrency exchange and custodian Gemini, Australian payments app Beem and UK challenger bank OakNorth.
In April 2021, the company introduced an early-stage anti-money laundering programme that gave startups free access to its tools.
Mongolian Fintech Association