ComplyAdvantage extends Series C round with investment from Goldman Sachs

By Megha Bhattacharya

ComplyAdvantage today announced a $20 million investment by the Growth Equity team in Goldman Sachs Asset Management. The investment is an extension to the company’s oversubscribed Series C funding announced in July 2020. Goldman Sachs Asset Management joins a growing list of the company’s investors including the Ontario Teachers’ Pension Plan Board, Index Ventures, and Balderton Capital.

“We’ve seen first-hand the compelling benefits that ComplyAdvantage offers across a range of portfolio companies,” said James Hayward, Managing Director in the Growth Equity team at Goldman Sachs Asset Management. “The company brings clear value to its clients and has grown at an impressive rate. We are excited to support the business as it continues to scale rapidly and help companies of all stages manage these critical risks.”

The company stated that it will use this new investment to build on the growth it has experienced to date and cement its position as a critical part of the value chain for companies managing evolving risks around anti-money laundering (AML), know your customer (KYC) processes and broader financial crime.

“Financial services innovation is the catalyst for massive business transformation. Companies need a hyper-scale AML and risk solution as a financial crime deterrent,” said Charles Delingpole, founder and CEO of ComplyAdvantage. “Goldman Sachs Asset Management is a great partner for ComplyAdvantage because they recognize the power of intelligent AML and risk detection not only to fortify businesses but also to help them introduce new services to market with greater confidence and integrity.”

Recently, banking-as-a-Service HUBUC has partnered with the Anti-Money Laundering (AML) and risk detection provider ComplyAdvantage to integrate its innovative compliance and security screening technology. The partnership will enable businesses using HUBUC’s platform to benefit from ComplyAdvantage’s global sanctions screening technology. This uses real-time proprietary AML data and sophisticated, configurable matching technology to track companies or entities and ensure businesses are measuring risk against the latest available information and are therefore protected.