Hawk AI Accelerates Global Expansion With $17 Million Series B Posted on : Jan 26 - 2023

Hawk AI, Germany’s leading provider of anti-money laundering (AML) and fraud prevention technology for banks and payment companies, announced $17M in Series B financing to accelerate product development and global expansion. The funding 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.

Hawk AI helps financial institutions fight financial crime. 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.

“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 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.

“Financial crime has historically been challenging to identify due to the complexity of financial structures and regulations. Hawk AI’s sophisticated technology and use of explainable artificial intelligence present critically needed straightforward solutions for institutions across the payments landscape,” said Chris Eng, Principal at Sands Capital. “Hawk AI is a leader in creating a more secure financial ecosystem, and we are excited to partner with their team as they continue to expand their platform globally.”

“As financial crime grows in volume and sophistication, and payments are completed in real-time, financial services companies need to upgrade their anti-fraud and money laundering infrastructure. Incumbent platforms have expensive on-premise deployments, cumbersome UX, and generate thousands of false positives for compliance analysts to screen, creating an expensive regulatory liability. Hawk AI’s cloud-native infrastructure and practical application of machine learning are solving the cost and compliance challenges in financial services,” said Guy Ward Thomas, Partner at DN Capital.

“We invested in Hawk 18 months ago based on their strong vision for revolutionizing the fight against financial crime. It has been a pleasure seeing that vision realized through further Fraud and AML product development, onboarding of large international customers, and revenue growth. View more