UK financial crime RegTech Napier AI has landed £45m in backing from US-based Crestline Investors.
Headquartered in London, and founded in 2015, Napier AI is a provider of AI-enhanced financial crime and regulation technology compliance software providing AML screening for the banking, payments and wealth & asset management industries.
Napier technology is used by institutions to screen, monitor and identify, criminal or suspicious activities, with the added functionality of regulatory reporting.
Since 2021, top-line revenue has grown at 30%+ year on year, as Napier AI has invested in its go-to-market organisation and bolstered its product line via dedicated R&D. The company has 150 customers worldwide.
Greg Watson, CEO at Napier AI, says: "Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions, so there is a need to invest in NextGen AI-enhanced solutions with the benefit of trusted technology and delivery.”