Hawk AI's Anti Money Laundering (AML) software uses artificial intelligence to identify patterns of suspicious activity in financial transactions, providing anti-money laundering professionals with highly relevant, actionable alerts. The solution aims to reduce the false positive rate by over 70 percent compared to traditional approaches. the startup founded in 2018 Enable financial institutions to comply with regulations at significantly lower costs.
"Financial crime has historically been difficult to detect due to the complexity of financial structures and regulations. Hawk AI's sophisticated technology and use of explainable artificial intelligence provide much-needed simple solutions for institutions across the payments landscape. Hawk AI is leading the way in creating a safer financial ecosystem, and we are excited to partner with the Hawk AI team as it expands its platform globally."
explained Chris Eng, a principal at US investor Sands Capital, which is leading the now completed financing round. DN Capital and Coalition are also participating as new investors. Existing investors Blackfin Capital Partners and Picus Capital are also back on board. The startup plans to invest the fresh funds in product development and expansion. The startup is already active globally in over 60 countries.
Existing investor enthusiastic about Hawk AI
Tobias Schweiger, CEO and co-founder of Hawk AI, explains:
"My co-founder Wolfgang Berner and I founded this company out of the firm belief that only cutting-edge, real-time monitoring technology can bring about the necessary change in the fight against financial crime. This contrasts with the obvious, drastic shortcomings of traditional technologies. Hawk AI's growth will continue to be driven by industry-wide demand for AI, cloud outsourcing, and the convergence of fraud and AML technology. This funding will enable us to accelerate our goal of becoming the leading global monitoring platform."
Maxime Mandin, Investment Director at Blackfin Capital Partners, adds:
"We invested in Hawk 18 months ago because of the company's strong vision for revolutionizing the fight against financial crime. It's been a pleasure to see this vision realized through the continued development of fraud and AML products, the onboarding of large international clients, and revenue growth. We look forward to the company's continued success and will continue to support the team on this journey."
