News and resources on cyber and physical threats to banks and fintechs worldwide.
HSBC and ABN Amro Ventures join $64.7 million round in Quantexa

HSBC and ABN Amro Ventures join $64.7 million round in Quantexa

Financial crime fighting platform Quantexa has raised $64.7 million in funding with support from HSBC and ABN Amro Ventures.

The round was led by Evolution Equity Partners, and also included backing from Dawn Capital, AlbionVC, British Patient Capital and Accenture Ventures.

The company says it will use the capital injection to push into new vertical industries such as the public sector, while developing more platform applications across financial services.

This new round of funding follows a $22.7 million Series B round secured in August 2018, bringing total funds raised to date to $90 million.

Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual view of internal and external data, which can be interrogated in a single place to solve major challenges across financial crime, customer intelligence, credit risk, and fraud.

Big ticket clients include HSBC, Standard Chartered Bank and Accenture.

Vishal Marria, CEO at Quantexa, comments: “We are seeing a huge demand for our platform to support multiple applications across our core markets in financial services and within new industry sectors. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations.”

Comments: (0)