Hawk, a Germany-based provider of AI-driven anti-money laundering (AML), screening, and fraud prevention solutions, has secured US$56 million in Series C funding.
The company, which supports over 80 clients globally – including Tier 1 banks, mid-sized financial institutions, and fintech firms – will use the funds to drive product development and expand its presence internationally, with a particular focus on the United States.
The funding round was led by One Peak, with participation from existing investors Macquarie Capital, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus, and Coalition.
Hawk’s technology aims to address limitations in traditional rules-based AML and fraud detection systems, which often generate large numbers of false positives and fail to detect more complex or novel criminal activities.
The company’s AI-powered platform is designed to improve accuracy and reduce the operational burden on compliance teams.
“Every financial institution that wants to reduce compliance workloads and increase the accuracy of risk detection should be using AI to achieve those goals,”
said Tobias Schweiger, CEO of Hawk.
“The results are compelling – we’ve been able to increase alert accuracy to almost 90% in some cases, while significantly cutting false positives. We’re also uncovering twice as many previously undetected cases of ‘novel’ criminal activity.”
He added:
“AI is in our DNA at Hawk. Our mission is to provide financial institutions with the technology, the expertise and the support that they need to realise the transformative impact that machine learning and generative AI can have across their anti-financial crime operations.”
Featured image credit: edited from freepik
