ComplyAdvantage raises $50M Series C to continue its fight against global financial crime

JUL 28, 2020

The Series C round was led by Ontario Teachers’ Pension Plan with participation from Balderton and Index Ventures. 

ComplyAdvantage uses machine learning and natural language processing to help regulated organisations manage their risk obligations and prevent financial crime. 

The new round, which brings the total investment to date to US$88M, will help ComplyAdvantage achieve rapid product and market expansion across the United States, Europe, and the Asia-Pacific region.

Balderton previously led ComplyAdvantage's Series A in 2016.

You can read Suranga's post here 'ComplyAdvantage — the financial industry’s knight in Machine Learning armour,' describing his first meeting with Founder and CEO, Charles Delingpole, and why he believes ComplyAdvantage is one of the most exciting companies in European fintech.  

You can also watch Suranga and Charles in conversation at Balderton's CEO Collective Summit below. 

Suranga interviews Charles Delingpole at the Balderton CEO Collective

This funding allows us to accelerate the development of our industry-leading data and suite of products to serve institutions with diverse clients and complex risk exposure.

Charles Delingpole, Founder and CEO of ComplyAdvantage

Charles Delingpole, Founder and CEO of ComplyAdvantage, at the Balderton CEO Collective Summit in 2018.

Detecting financial crime in billions of transactions that take place around the globe has become nearly impossible without the application of data science and machine learning.

ComplyAdvantage’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

This reduces dependence on manual review processes and legacy databases by up to 80% and improves how companies screen and monitor clients and transactions. 

This is even more critical now, as external risk indicators are becoming harder to spot as the amount of information available grows exponentially and the speed of change gathers pace.

ComplyAdvantage is one of the most exciting companies currently being built in Europe’s burgeoning ‘fintech’ industry. This technology and the products it powers may be invisible, but their impact will be felt by all of us.

Suranga Chandratillake, Balderton

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