London-based Napier AI, a regtech company specialised in delivering AI-powered anti-money laundering and financial crime compliance software, announced on Wednesday that it has secured £45M (approximately €52M) from Crestline Investors.
The company will use the capital injection to expand its business in the upcoming years. This will allow Napier AI to continue developing and providing NextGen screening and monitoring solutions to financial institutions.
Napier AI: Preventing anti-money laundering and financial crime
Founded in 2015, Napier AI provides AI-enhanced financial crime and regulation technology compliance software — Napier Continuum.
This software helps prevent money laundering in the banking, payments, and wealth & asset management industries.
With Napier AI’s solutions, customers can screen, monitor, and identify criminal or suspicious activities and generate regulatory reports.
This reduces the risk of financial loss, reputational damage, and non-compliance.
Napier AI’s top-line revenue has grown by over 30 per cent year on year. The company claims to have witnessed strong top-line growth despite not having a private equity sponsor or significant institutional capital.
“We are pleased to deliver strong, continuous growth in a challenging market. Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions, so there is a need to invest in NextGen AI-enhanced solutions with the benefit of trusted technology and delivery,” says Greg Watson, CEO at Napier AI.
The investor
Crestline Investor is an institutional alternative investment management firm with approximately $17.5B in assets under management.
The company specialises in credit and opportunistic investments, including providing flexible capital solutions to middle-market companies, asset-backed investing, and financing and restructuring solutions for mature private equity funds.
“We are excited to work with the Napier AI team and believe their market-leading, AI-powered technology platform is well-positioned to help financial institutions and other regulated companies excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements,” says Will Palmer, Managing Director at Crestline.
Read the orginal article: https://siliconcanals.com/news/startups/london-napier-ai-bags-52m/
