Hawk AI, a Munich, Germany-based provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies, announced that it raised $17 million in Series B funding to accelerate product development and global expansion.
The round was led by Sands Capital from Washington, D.C., with participation from new and existing investors, including DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital.
“My co-founder Wolfgang Berner and I started this business based on the strong belief that only leading-edge, real-time surveillance technology can deliver the change needed to fight financial crime. This contrasts with the obvious, drastic deficiencies in legacy technology. Hawk AI’s growth will continue to be fueled by industry-wide demand for AI, cloud outsourcing, and a convergence of fraud and AML technology. This funding will allow us to reach our ambition to become the leading global surveillance platform faster,” said Tobias Schweiger, CEO, and Co-Founder of Hawk AI.
Powered by Explainable AI and based on flexible cloud infrastructure, the company’s surveillance platform helps financial institutions detect and prevent the financial crime that other systems miss while it supports efficient investigation of suspicious account behavior in a user-friendly case management environment.
The company experienced 298% year-over-year revenue growth in 2022, recently won the coveted Fintech Germany award, and added Singapore to its global presence spanning Munich, London, New York, San Francisco, and Paris.
Hawk AI partners with leading firms including VISA and Diebold Nixdorf, and more than 40% of Hawk AI’s revenue originates from the USA.
Company: Hawk AI GmbH
Round: Series B
Funding Month: January 2023
Lead Investors: Sands Capital
Additional Investors: DN Capital, Coalition, BlackFin Capital Partners, and Picus Capital
Company Website: https://hawk.ai/
Software Category: AI-powered Anti-Money Laundering (AML) solutions
About the Company: Founded in 2018 by Wolfgang Berner and Tobias Schweiger, Hawk AI is a software platform that uses AI to monitor financial transactions in real time, delivering next-generation anti-money laundering compliance for financial institutions. The company helps banks, payment companies, and fintechs fight financial crime with AML and fraud surveillance. Powered by explainable AI (patent-pending) and cloud technology with a core focus on information sharing, Hawk AI improves the efficiency and effectiveness of anti-financial crime teams. Fully modular, cloud-native, and enhanced with machine learning, Hawk AI makes customer and transaction surveillance more efficient and ensures regulatory compliance. The company has scaled globally, processing billions of transactions across 60 countries. Hawk AI works with leading financial institutions and partners such as North American Bancard, Moss, Banco do Brasil Americas, Mambu, Visa, and Lexis Nexis.