Munich \u2014 Follo\u00adwing a EUR 100 million round less than a year ago, the Munich-based startup Hawk AI (\u201cHawk\u201d) has announ\u00adced the next major round for its AI tool to combat money laun\u00adde\u00adring and fraud: a large Series C round of EUR 52 million. The new funds are inten\u00added to finance both the further deve\u00adlo\u00adp\u00adment of the plat\u00adform and its global expan\u00adsion, parti\u00adcu\u00adlarly in the USA. \u2014 The finan\u00adcing round was led by London-based VC One Peak, with exis\u00adting inves\u00adtors Rabo\u00adbank, Macqua\u00adrie, Black\u00adFin Capi\u00adtal Part\u00adners, Sands Capi\u00adtal, DN, Picus and Coali\u00adtion also participating. <\/p>\n
Accor\u00adding to Crunch\u00adbase, the total finan\u00adcing volume now amounts to around 174 million euros. As recently as June 2024, the startup recei\u00adved 100 million dollars as part of the massive expan\u00adsion of its Series B. <\/p>\n
Tobias Schwei\u00adger and Wolf\u00adgang Berner foun\u00added Hawk AI in Munich in 2018. More and more (neo-)banks, tradi\u00adtio\u00adnal finan\u00adcial insti\u00adtu\u00adti\u00adons and crypto compa\u00adnies are now looking for AML (anti-money laun\u00adde\u00adring) and CFT tech\u00adno\u00adlo\u00adgies, i.e. when it comes to comba\u00adting the finan\u00adcing of terro\u00adrism. Hawk relies heavily on AI to screen money flows automatically. <\/p>\n
Hawk\u2019s approach goes beyond the tradi\u00adtio\u00adnal, rule-based approach to comba\u00adting money laun\u00adde\u00adring and fraud, which often results in huge volu\u00admes of false posi\u00adtive alerts for banks that need to be manu\u00adally checked by compli\u00adance teams.<\/p>\n
Hawk makes its tech\u00adno\u00adlogy available to banks and fintechs and in return recei\u00adves soft\u00adware usage or license fees, depen\u00adding on the size of the company. This is based on the tran\u00adsac\u00adtion volume or the capi\u00adtal under management. <\/p>\n
The tech\u00adno\u00adlogy market for soft\u00adware like Hawk\u2019s is curr\u00adently growing at around 20 percent per year \u2014 mainly because many insti\u00adtu\u00adti\u00adons want or even need to replace their outda\u00adted systems with modern AI tech\u00adno\u00adlogy. Hawk has been working with various forms of AI since 2018 and is constantly deve\u00adlo\u00adping its models further. The next waves are the use of Gene\u00adra\u00adtive AI and Agen\u00adtic AI, which are alre\u00adady reco\u00adgni\u00adzing patterns even more accu\u00adra\u00adtely and will make even better decis\u00adi\u00adons in the future. <\/p>\n
About Hawk<\/strong><\/p>\n Hawk\u2019s mission is to help finan\u00adcial insti\u00adtu\u00adti\u00adons fight finan\u00adcial crime more effec\u00adtively and effi\u00adci\u00adently by using AI to detect more suspi\u00adcious acti\u00advity and reduce unneces\u00adsary alerts. www.hawk.ai<\/p>\n","protected":false},"excerpt":{"rendered":" Munich \u2014 Follo\u00adwing a EUR 100 million round less than a year ago, the Munich-based startup Hawk AI (\u201cHawk\u201d) has announ\u00adced the next major round for its AI tool to combat money laun\u00adde\u00adring and fraud: a large Series C round of EUR 52 million. The new funds are inten\u00added to finance both the further development [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[1366],"tags":[],"class_list":["post-55916","post","type-post","status-publish","format-standard","hentry","category-news-en"],"yoast_head":"\n