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Rabobank joins funding round in Hawk

German RegTech Hawk has extended its Series B funding round with an additional investment from Dutch bank Rabobank.

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Rabobank joins funding round in Hawk

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Hawk raised $17 million in March in the first tranche of its Series B, which was led by Sands Capital from Washington DC, with participation from new and existing investors, including DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital.

The arrival of Rabobank into the mix has led to a "substantial increase in valuation", although the value of the investment has not been disclosed.

Powered by Explainable AI and based on flexible cloud infrastructure, Hawk's surveillance platform helps financial institutions detect and prevent fraud and money laundering.

Founded in 2018, the company has scaled globally, processing billions of transactions across 60 countries. Hawk works with leading financial institutions and partners such as North American Bancard, Moss, Banco do Brasil Americas, Mambu, Visa, and Lexis Nexis. Forty percent of its revenues are derived from the US.

Martijn Scholtes, managing director at Rabo Investments, says: “Rabobank has been working with machine learning applications for many years. What impressed us most about Hawk is that they’re delivering compelling results using explainable AI. Their advanced screening, detection and monitoring capabilities align very well with our mission to build a more secure and robust financial ecosystem.”

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