Unit21 closes $34m Series B round led by Tiger Global
San Francisco-based fintech Unit21 has secured a $34 million Series B financing round led by investment firm Tiger Global.
The round follows the company’s $13 million Series A, which was announced just seven months ago in October 2020.
Unit21 says the new investment takes its total valuation up to $300 million.
The data infrastructure company offers a no-code rules engine to help detect money laundering and fraud.
Founded in 2018, the firm’s platform enables companies to perform customised analysis and tracking of various data, combining know your customer (KYC) verification, transaction monitoring detection and suspicious activity report (SAR) case management.
“Data is the most important weapon in the fight against fraud and money laundering,” says Trisha Kothari, co-founder and CEO of Unit21.
“This funding will support our mission to democratise data and make it more accessible to operations teams.
“We look to expand our engineering, research and development, and go-to-market teams. It will also help bolster strategic expansion into new industries.”
ICONIQ Capital and existing investors Gradient Ventures, A.Capital, and South Park Commons also participated in the round.