Napier AI, based mostly in London, has secured a majority development funding from Marlin Fairness Companions, a world funding agency with over US$9 billion in capital commitments.
This funding will assist the corporate proceed its analysis and growth efforts and increase its international market presence.
Based in 2015, Napier AI’s Continuum platform is utilized by over 100 establishments worldwide, together with HSBC, State Road, and Starling Financial institution.
The platform makes use of knowledge science rules to supply AI-powered compliance options to assist monetary establishments sort out monetary crime.
The funding displays the growing demand for AI options in anti-money laundering and counter-terrorist financing. It’ll help the corporate’s concentrate on enhancing its AI applied sciences and increasing regional tech hubs.
Mike Wilkinson, Managing Director at Marlin, mentioned,
“The Napier AI workforce impressed us with their strategic and progressive product providing and buyer focus. Because the regulatory panorama turns into extra complicated, this compliance-first AI platform is well-positioned for continued development.”
Greg Watson, CEO of Napier AI, added,
“In a time of rising monetary crime threats, having a contemporary AI-driven resolution is important for regulatory compliance. We’re happy to companion with Marlin, whose funding will assist us scale and innovate as we increase globally.”
Baird acted as unique monetary advisor to Napier AI, whereas Torch Companions suggested Marlin.
Featured picture credit score: edited from freepik
