Quantexa, an AI and Big Data powered Contextual Decision Intelligence Software Developer, Acquires $64.7 Million in Funding with Support from HSBC and ABN Amro

Quantexa, a platform that aims to prevent financial crime, has acquired $64.7 million in funding with support from financial giants HSBC and ABN Amro Ventures.

Quantexa’s recent investment round was led by Evolution Equity Partners. Accenture Ventures,  AlbionVC, British Patient Capital, and Dawn Capital also took part in the round.

The firm stated that the funds raised would be used to expand its operations into new market segments, which will include the public sector. Quantexa also mentioned that it would be focused on developing more platform applications across various financial services.

This latest round of financing has come after Quantexa’s $22.7 million Series B round in August 2018. The firm has raised a total of $90 million (to date).

Quantexa leverages AI and Big Data in order to identify risks and new opportunities when conducting financial transactions. The company’s software offers a contextual view of internal and external data, which can be further investigated or closely examined in a single place to address challenges across financial crime, customer intelligence, credit risk, and fraud.

Quantexa’s software is used by Accenture, HSBC, and Standard Chartered Bank.

Vishal Marria, CEO at Quantexa, remarked:

“We are seeing a huge demand for our platform to support multiple applications across our core markets in financial services and within new industry sectors. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations.”

In November 2019, London-based Standard Chartered, a multinational banking and financial services company with $688 billion in assets, teamed up with Quantexa, in order to enhance the bank’s anti-financial crime efforts.

Quantexa’s management said the company will support Standard Chartered’s financial crime division by using contextual data, dynamic entity resolution, and network analytics to combat major real-world problems, such as terrorism financing, money laundering, and various fraudulent schemes.

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