Hawk AI secures $10 mn USD in Series A led by BlackFin Capital Partners

By Megha Bhattacharya

Hawk AI announced that it has raised $10 million USD in its Series A funding, with FinTech specialist BlackFin Capital Partners leading the investment round and Picus Capital expanding its existing share. The investment will be used by the company to strengthen its European and U.S. footprint, while also expanding to Singapore and the United Arab Emirates. Additionally, Hawk AI expects to double its employee headcount by the end of 2022.

“We have made it our mission to bring long overdue technology advancements such as Cloud, AI and real-time analytics to these sensitive and costly processes,” said Tobias Schweiger, Co-Founder and CEO of Hawk AI. “This latest investment speaks volumes about the opportunity we have in front of us, and we’re grateful for the support of our investor partners that validate our mission. Our proven technology and the team’s many decades of experience in financial services allow us to win our customers’ trust in a field where a solid footing counts the most.”

Hawk AI is a German software platform for banks, payment firms and FinTechs for the detection of transactions linked to financial crime. The software identifies patterns of suspicious activity in financial transactions with the help of artificial intelligence and provides anti-money-laundering experts with highly relevant, actionable alerts.

“Regulators and financial institutions around the world understand that the problem of financial crime and compliance cannot be solved with legacy, rules-based software alone,” said Maxime Mandin, Investment Director at lead investor BlackFin Capital Partners. “In an increasingly dynamic market, Hawk AI stands out as the next generation solution for Transactions Surveillance, with strong references not only in the mid-market but also with large-scale, complex deployments. At BlackFin, we have been following the company since its inception and have always been impressed by the strong vision and the deep payment background of the founders – which is a key competitive advantage of Hawk AI.”