The financial crimes fighting platform Quantexa reported that it managed to attract investment funds for 129 million dollars.
Currently, the cost of this platform, whose activities are aimed at suppressing criminal intervention in the financial sector, is $ 129 million. New investment funds were raised following the results of the Series E financing round.
The round was led by GIC, which was joined by Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, and AlbionVC. HSBC, BNY Mellon, and ABN Amro also participated in this round.
In its work, the platform uses advanced achievements in the field of big data and artificial intelligence. Quantexa is aimed at detecting hidden risks. The platform provides clients with a contextual representation of internal and external data that can be analyzed in one place to solve basic tasks. These tasks are related to countering crimes in the financial industry and analyzing consumer data and risks during lending. The company’s technology has been implemented in more than 70 countries.
The news of raising additional investment funds came a few weeks after Quantexa acquired Aylien, an Irish leader in natural language processing and advanced artificial intelligence.
The company intends to direct the new financing to the implementation of measures to stimulate technological innovation. The platform also plans to spend part of investment funds on strengthening its capabilities, which relate to solutions in the field of combining data with a low level of coding, graphical analytics, machine learning, natural language processing, and artificial intelligence.
Quantexa plans to focus in the foreseeable future on accelerating the implementation of joint efforts to enter the market with its leading partners, including Google, Moody’s, Accenture, KPMG, Deloitte, and EY.
Vishal Marriya, CEO of Quantexa, said that the disbursement of attracted investment funds will contribute to the implementation of innovative solutions, diversification, and expansion. He also noted that the financing represents a reliable material base for the future of the company.
As we have reported earlier, Digital Lending Platform Presta Raises $3.3 Million.