Why investors are pouring money into AML startups

American Banker, July 21, 2021 - BlackFin Capital Partners, operating out of Paris, Brussels and Frankfurt, led the initial $10 million funding round for the startup Hawk AI to help it expand in Europe and move into North America. Like many investment groups, BlackFin generally takes either a majority shareholder position or an influential minority role.

Hawk AI, based in Germany, may be new to the game, but what it offers in protection alerts, compliance, decreasing false positives, real-time data analytics and data sharing has drawn investor attention. Plus, it already landed a key U.S. client in North American Bancard Holdings, which is based in Troy, Michigan.

"We realize that many organizations bring a lot of innovation, but one use case that draws our attention is fraud detection, so we are looking for companies that bring something else on top of general business rules" in detecting fraud or money laundering, said Maxime Mandin, investment director for BlackFin.

Read the article in full (Paywall): American Banker - Why investors are puring money into AML startups