Goldman Sachs Growth Equity has backed听ComplyAdvantage, a global data technology company transforming financial crime detection.
The investment is an extension to the听尝辞苍诲辞苍-丑别补诲辩耻补谤迟别谤别诲听RegTech鈥檚听oversubscribed Series C funding announced in听July 2020, and听takes the round to 拢50 million.听
Goldman Sachs joins a growing list of the company鈥檚 world-class investors including the Ontario Teachers鈥� Pension Plan Board, Index Ventures, and听Balderton听Capital.听
ComplyAdvantage will use the new investment to build on the rapid 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.听
The company also has been establishing itself as the global partner of choice for high growth companies including the US crypto exchange Gemini, the Australian payment app Beem It听and听UK challenger bank听OakNorth.听
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In addition, the company also announced the availability of a new program called听ComplyLaunch听that provides free access to the company鈥檚 award-winning AML tools and education for听startups, helping them to protect to the integrity of their businesses by reducing the threat of financial听crime.听
鈥淲e鈥檝e seen first-hand the compelling benefits that听ComplyAdvantage听offers across a range of Goldman Sachs Growth portfolio companies,鈥� said James Hayward, Managing Director for Goldman Sachs Growth Equity.听听听
鈥淭he 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.鈥�听
Charles听Delingpole, founder and CEO of听ComplyAdvantage, added:听鈥淔inancial services innovation is the catalyst for massive business transformation. Companies need a hyper-scale AML and risk solution as a financial crime deterrent.听
鈥淕oldman Sachs is a great partner for听ComplyAdvantage听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.鈥�听
Due to the unprecedented acceleration of digital transformation, rapidly growing听FinTechs听and corporates alike need a partner that can keep pace with innovation and market opportunities in the compliance space.听听
Given the growing volume, velocity and complexity of financial crimes, the traditional methods of human analysts reviewing batched data are no longer viable in many cases.听
ComplyAdvantage听says it brings an听intelligent approach to AML and risk mitigation using massive amounts of data contextualised with machine learning logic to deliver insights with greater accuracy in real-time and at scale.听听听