ThetaRay, a Hod Hasharon, Israel-based provider of an AI-powered transaction monitoring solution, raised $57 million in growth funding.

SaaS Investors

The round was led by Portage, with participation from existing investors JVP, OurCrowd, and others.

ThetaRay Use of Funds

The funds raised will be used for growth and geographic expansion as the company aims to expand its footprint across North America, South America, Europe, Africa, and Asia.

About ThetaRay

ThetaRay is the provider of an AI-powered AML transaction monitoring solution that allows payment fintech and banks to expand their business opportunities and grow revenues through trusted and reliable cross-border and domestic payments. The company's cloud-based transaction monitoring and screening solution uses proprietary AI technology to establish trusted transactions, allowing the flow of funds across the world. ThetaRay's clients include major financial institutions such as Santander, Travelex, Mashreq Bank, MFS Africa, and ClearBank. ThetaRay has seen significant growth in its number of clients and ARR over the last two years.      

Funding Details

Company: ThetaRay Ltd.

Raised: $57.0M

Round: Growth Round

Funding Month: September 2023

Lead Investors: Portage 

Additional Investors: JVP, OurCrowd

Company Website: https://www.thetaray.com/ 

Software Category: Anti-Money Laundering (AML) Software

Source: https://www.calcalistech.com/ctechnews/article/hyje4p40n