HSBC joins $20m funding round for financial crime specialist Quantexa

HSBC joins $20m funding round for financial crime specialist Quantexa

Big data and enterprise intelligence outfit Quantexa has raised $20 million in a Series B funding round led by Dawn Capital and backed by HSBC and Albion Capital.

Quantexa’s technology uses real-time entity resolution, network analytics and AI to knit together vast and disparate data sets and derive actionable intelligence to fight financial crime.

Founded in 2016, the London-headquartered firm now boasts a team of 90 staffers and has this year scored money laundering prevention deals with HSBC and Deloitte.

Vishal Marria, CEO, Quantexa, says: "Leveraging AI to build context is becoming critical to enable organisations to make better decisions.

"With this investment we will further expand our offerings using our unique technology and accelerate our international expansion following the opening of our New York and Boston operations."

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