Hawk bags investment from Macquarie to boost AI anti-financial crime tech
Summary
Hawk, an AI-powered technology for fraud prevention and AML firm, has announced an expansion of its Series B financing round.Macquarie Capital joins a robust group of investors including Rabobank, BlackFin Capital Partners, Sands Capital, DN, Picus, and Coalition in this funding initiative.The investment sum, which increases the total Series B to $144m, will primarily fuel Hawks international expansion. Hawk aims to leverage Macquarie Capitals expertise and network to extend their reach, particularly in the Asia-Pacific and US markets, enhancing their client base and further establishing their presence in these regions.Founded in 2018 by veterans of the finance industry, Hawk has seen rapid growth and now monitors or screens billions of transactions globally. Their innovative approach to using explainable AI has set new standards in the industry, reducing false positives and uncovering new types of criminal activity more effectively than traditional systems.Hawk CEO and Co-founder Tobias Schweiger expressed his enthusiasm for the partnership, noting, Were delighted that Macquarie Capital has chosen to work with Hawk. The global banking sector has recognized the enormous potential of AI in preventing, detecting, and managing financial crime. Leveraging Macquarie Capitals network and experience scaling successful risk software businesses will enable us to further expand our client base in Asia-Pacific, the US and beyond.Keep up with all the latest FinTech news here.