Vilnius-based RegTech startup Amlyze, has concluded a $1 million pre-seed investment round led by Practica Capital, with participation from Lithuania's Firstpick accelerator and venture capital fund.
Amlyze is a Software-as-a-Service (SaaS) provider offering a suite of anti-financial crime technology, taking in real-time and retrospective transaction monitoring, customer risk assessment, and AML investigation.
The Amlyze team boasts experts with extensive experience in anti-money laundering, financial fraud prevention, and financial market supervision, including Jekaterina Govina, former head of the Financial Market Supervision Service at the Bank of Lithuania, Mindaugas Petrauskas, former supervisor of the Financial Intelligence Unit (FIU) of Lithuania, and Eglė Kontautaitė, former head of the Money Laundering Prevention Division at the Bank of Lithuania.
Gabrielius Bilkštys, CEO and co-founder of Amlyse, states: "We have assembled a core team comprising seasoned IT and anti-financial crime professionals, as well as former regulators and supervisors with backgrounds in central banking and law enforcement. We consider ourselves industry experts who possess an insider's perspective on the sector, enabling us to assist financial institutions in meeting escalating regulatory requirements and enhancing their compliance efficiency."
The company, which has a current client base primarily located in the Baltic States and the United Kingdom, intends to use the new funds to expand internationally and to introduce new core functionalities.