AMLYZE raises $1m in a pre-seed round

Due to the rise in financial crime, financial institutions now more than ever need the services that regtechs provide

Lithuania-based regtech AMLYZE has raised $1m in a pre-seed investment round, led by Practica Capital, with participation from FIRSTPICK. 

The funding will be used to scale its software-as-a-service business, facilitate international expansion and enhance its product offering.  

Founded in 2019, AMLYZE offers transaction monitoring, risk assessment and case investigation solutions to its clients, currently based in the Baltic States and the UK. 

Due to the rise in financial crime, driven by money laundering, terrorism financing and geopolitical tensions, financial institutions now more than ever need the services that regtechs provide. 

According to estimates from the United Nations Office on Drugs and Crime, financial crime accounts for 2% to 5% of the annual global GDP ($800b to $2t). 

Other fintechs in Europe that are fighting financial crime include Estonia-based Salv, Swiss fintech NetGuardians, and Fourthline, headquartered in the Netherlands. 

Gabrielius Bilkštys, chief executive officer and co-founder of AMLYZE, stated: “Our mission is to help the world overcome financial crime.  

“We consider ourselves industry experts who possess an insider’s perspective on the sector, enabling us to assist financial institutions in meeting escalating regulatory requirements and enhancing their compliance efficiency.”  

Donatas Keras, founding partner of Practica Capital, commented: “AMLYZE, bringing together an outstanding core team on a clear mission, has firm ground and the potential to bring category-defining products to the vast and growing market.”   

Marijus Andrijauskas, partner of FIRSTPICK, added: “The surge in demand for AMLYZE’s anti-financial crime solutions comes as no surprise given the increasing regulatory scrutiny worldwide, which threatens the growth of the fintech industry.” 

Image: AMLYZE

Josh Poyser Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.