UK-based financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners.
Today’s funds add to Napier AI’s existing $55.8 million in funding and will be used to support global expansion and R&D.
The company’s Napier Continuum AI-powered AML compliance platform serves over 100 financial institutions, including major players like HSBC and State Street, using AI and data science to help compliance teams make faster, more accurate decisions.
Financial crime compliance solutions company Napier AI has received a majority growth investment from Marlin Equity Partners. The amount of the investment was undisclosed, but will be added to Napier’s $55.8 million in existing funds from the company’s 2024 round.
“The Napier AI team impressed us with their strategic and innovative product offering, and dedicated customer focus. As the regulatory landscape becomes more complex, this mission-critical compliance-first AI platform is well-positioned to deliver continued growth in the global anti-financial crime market,” said Marlin Managing Director Mike Wilkinson. “We are excited to work alongside the Napier AI management team and are thrilled to support the company’s vision of helping more enterprises effectively and efficiently put a halt to money laundering activities.”
The U.K.-based company said that it will use the funds to “advance its market position through ongoing research and development” and support its global expansion.
Napier was founded in 2015 and offers Napier Continuum, an anti-money laundering (AML) compliance suite that provides AML screening and monitoring solutions in a modular platform that helps businesses scale. The company leverages AI and data science to help compliance teams make decisions quickly and accurately. The Continuum platform counts more than 100 financial institution clients, including HSBC, State Street, Mizuho Trust & Banking, SS&C, Starling Bank, ClearBank and WTW.
“We believe our AI-enabled products and passionate employees allow us to deliver exceptional value to customers and partners,” said Napier AI CEO Greg Watson. “In an era of ever-evolving financial crime threats, having a modern solution leveraging AI and automation is paramount to maintaining regulatory compliance and protecting the financial services industry from bad actors. We’re delighted to have found the right partner at such a pivotal moment in our journey to help us continue our momentum and grow the Napier AI brand globally. Marlin has an incredible heritage in helping businesses like ours to scale and innovate, and we are confident both our customers and our teams will see immediate benefits from Marlin’s investment.”
Napier said that the investment highlights the demand for AI-based AML solutions in today’s increasingly complex regulatory environment. It also comes at a time when the fintech sector is quickly developing AI-powered tools to address financial crime, which reflects the financial services industry’s urgent need to combat increasingly advanced fraud techniques while simultaneously meeting stringent regulatory requirements.
Napier demoed its Customer Screening and Transaction Monitoring Enhancement software at FinovateEurope 2018 in London. At this year’s FinovateEurope event, taking place 25 through 26 February, we will showcase 30+ demoing companies, many of which are leveraging AI. Register today using this link and save 20% on your ticket.
Photo by Harrison Fitts
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