GERMANY – Hawk AI, a Munich, Germany-based provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies, raised $17M in Series B funding.
The round was led by Sands Capital from Washington D.C., with participation from DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital.The company intends to use the funds to accelerate growth, expand operations and its business reach.Led by CEO Tobias Schweiger, Hawk AI helps banks, payment companies and fintechs fight financial crime with AML and fraud surveillance. Powered by explainable AI (patent-pending) and cloud technology with a core focus on information sharing, the company improves the efficiency and effectiveness of anti-financial crime teams. Using traditional rules combined with artificial intelligence to detect suspicious behavior in real-time, financial crime specialists can investigate true instances of suspicious activity. The company experienced 298% year-over-year revenue growth in 2022, and added Singapore to its global presence spanning Munich, London, New York, San Francisco and Paris. Hawk AI 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 Hawk AI’s revenue originates from the USA.27/01/2023
