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Citi invests in financial crime risk management vendor Quantifind

Citi invests in financial crime risk management vendor Quantifind

Quantifind, a provider of AI-powered financial crimes risk management technology, has raised $23 million in a funding round joined by Citi Ventures.

DNS Capital led the round, with participation from US Venture Partners, Valor Equity Partners, and S&P Global.

The funding comes after a strong 2022 for Quantifind, which says it secured deals with four of the world's largest banks for its Graphyte platform.

The money will be used to expand the US firm's footprint in international markets, grow global brand recognition, and boost its offerings for financial crimes investigation, continuous customer monitoring, alerts triage, and supply chain risk screening.

Vibhor Rastogi, global head, AI/ML/Data investing, Citi Ventures, says: "As the financial markets continue to evolve, it is critical for risk management teams to develop dynamic detection capabilities to prevent and mitigate financial crime and global threats.

"Quantifind is uniquely poised to deliver the data coverage, rich feature set, and detection accuracy grounded in science that global risk specialists across industry and government need to be effective at fighting financial crime and emerging threats."

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