Hawk AI has developed an anti-money laundering (AML) software that uses artificial intelligence to identify patterns of suspicious activity in financial transactions. The Munich-based startup thus provides anti-money laundering experts with highly relevant, actionable alerts. In this way, the solution is intended to reduce the false-positive rate by more than 70 percent compared to conventional approaches. The startup, founded in 2018, wants to enable financial institutions to comply with regulations at significantly lower costs.
With the expansion of the Series B round, Dutch bank Rabobank joins existing investors Blackfin Capital Partners, Sands Capital, DN, Picus, and Coalition. With the additional funds, Hawk AI plans to accelerate its international growth further. According to its own statements, the startup is experiencing significantly increased demand for AI-powered technology to combat financial crime.
The company states it currently monitors and checks billions of transactions worldwide. There is still plenty of room for growth. Capgemini’s World Payments Report estimates the volume of cashless transactions globally in 2023 at around 1.3 trillion. For 2027, a volume of approximately 2.2 trillion transactions is expected.
Hawk AI delivers technology that is “safe and reassuring for financial sector companies”
Martijn Scholtes, managing director at Rabo Investments, explains:
“Rabobank has been working with machine learning applications for many years. What impressed us most about Hawk is that they deliver convincing results with explainable AI. Their advanced screening, detection, and monitoring functions align very well with our mission to build a safer and more robust financial ecosystem.”
Maxime Mandin, managing director at existing investor Blackfin Capital Partners, also praises the Munich-based company:
“What’s special about Hawk is their ability to deliver innovative technology in a way that is safe and reassuring for financial sector companies. It’s exciting to see their results, and we’re delighted to be part of their continued growth.”
And Tobias Schweiger, CEO of Hawk, says:
“We are honored that Rabobank has recognized the importance of our technology and is building a globally market-leading company with us, while at the same time benefiting firsthand from our solutions and experience. I would also like to thank our existing investors for their continued support and look forward to continuing our partnership.”
