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Hawk AI accelerates global expansion with $17m Series B

By Gloria Methri

January 30, 2023

  • AML
  • Anti - Money Laundering
  • Financial Crime
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Hawk AI, Hawk:AI, Germany, AML, Anti-Money Laundering, Fraud Prevention Solutions, Financial Crime, Global Surveillance Platform Hawk AI, the German provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies has raised $17 million in Series B funding. The amount will enable Hawk AI to further accelerate its product development and fuel global expansion.

The funding round was led by Sands Capital from Washington D.C., with participation from new and existing investors, including DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital.

Hawk AI helps financial institutions fight financial crime. Powered by Explainable AI and based on cloud infrastructure, the company’s surveillance platform helps banks detect and prevent financial while supporting efficient investigation of suspicious account behaviour in a case management environment.

“Hawk AI’s growth will continue to be fuelled by industry-wide demand for AI, Cloud outsourcing, and convergence of Fraud and AML technology. This funding will allow us to reach our ambition to become the leading global surveillance platform faster,” said Tobias Schweiger, CEO, and Co-Founder of Hawk AI.

“Financial crime has historically been challenging to identify due to the complexity of financial structures and regulations. Hawk AI’s sophisticated technology and use of explainable artificial intelligence present critically needed straightforward solutions for institutions across the payments landscape,” said Chris Eng, Principal at Sands Capital. “Hawk AI is a leader in creating a more secure financial ecosystem, and we are excited to partner with their team as they continue to expand their platform globally.”

The RegTech firm operates in more than 60 countries across Europe, North America, Asia, and Latin America, processing billions of transactions for customers including large financial institutions and listed entities. The company partners with leading firms including VISA and Diebold Nixdorf, and more than 40% of its revenue originates from the USA.

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