FinTech scaleup Quantexa scores $20m to fight financial crime

Financial technology startup Quantexa has raised an additional $20m (£15.2 million) in Series B funding led by Dawn Capital.

The scaleup, which closed a $3.3m Series A in March 2017, also drew support from existing backers Albion Ventures and HSBC.

Set up in March 2016, Quantexa leverages big data analytics in a bid to tackle complex financial crime.

According to the London-based company, the money will be used to continue developing its proprietary tech and to expand across the globe.

Vishal Marria, CEO at Quantexa, said: “Leveraging AI to build context is becoming critical to enable organisations to make better decisions. With this investment we will further expand our offerings using our unique technology and accelerate our international expansion following the opening of our New York and Boston operations.”

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