Hawk, a German regtech company with a presence in the APAC region, has announced the extension of its Series B funding round. The sum was not disclosed.
This extension sees Rabo Investments joining the ranks of existing investors BlackFin Capital Partners, Sands Capital, DN, Picus, and Coalition.
According to Hawk, the new funding will support its accelerated international expansion plans, driven by the growing demand for its AI-powered anti-financial crime technology.
Hawk’s explainable AI enables financial institutions to enhance their financial crime detection and prevention capabilities while maintaining regulatory compliance for AML/CFT.
Founded in 2018 by finance industry veterans, Hawk has reported rapid global growth and now is said to monitor billions of transactions worldwide.
Its explainable AI approach allows financial institutions to reduce false positive rates and detect previously unseen and novel financial crimes.
Hawk’s modular solution can enhance or replace traditional rules-based systems with AI-powered transaction monitoring, payment screening, pKYC, and fraud prevention in real-time, offering greater accuracy and reduced noise.
“Rabobank has been working with machine learning applications for many years. What impressed us most about Hawk is that they’re delivering compelling results using explainable AI.
Their advanced screening, detection and monitoring capabilities align very well with our mission to build a more secure and robust financial ecosystem,”
said Martijn Scholtes, Managing Director at Rabo Investments.
“We’re honored that Rabobank has recognized the significance of our technology and joins us in building a global market-leading enterprise, while also benefiting first-hand from our solutions and experience.
I would also like to gratefully thank our existing investors for their ongoing support and look forward to continuing our partnership.”
said Tobias Schweiger, CEO of Hawk.
Featured image credit: Edited from Freepik
