Quantifind bags $23m in funding to help firms combat financial crime
Quantifind, a provider of AI-powered financial crime risk management solutions, has raised $23 million in a funding round led by DNS Capital.
The round also saw participation from Citi Ventures, US Venture Partners, Valor Equity Partners, and S&P Global.
Founded in 2009 and based in California, USA, Quantifind offers Software-as-a-Service (SaaS) solutions to help banks and financial institutions combat money laundering and fraud. It also partners with government agencies to uncover criminal networks and election tampering.
With the new funding, Quantifind plans to expand into international markets and enhance its solutions for financial crimes investigation, customer monitoring, and supply chain risk screening.
Quantifind says the new funding follows a “strong” 2022 in which it partnered with “four of the world’s largest banks” and secured new contracts from the US Department of Defense. The firm has also signed deals with a number of US universities and established partnerships with the United for Wildlife taskforce and the Polaris Financial Intelligence Unit to fight human trafficking.
“Global financial institutions and governments value Quantifind’s ability to automatically uncover risk signals from disparate and unstructured data sources,” says Quantifind CEO and co-founder Ari Tuchman.