Leading banks invest in Acin

Founded in 2017 and headquartered in London, Acin’s platform for banks and other financial services organisations transforms their risk control content into data for anonymised benchmarking and sharing of best practice

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Leading banks invest in Acin

Regtech firm Acin has received $24m in series B funding, backed by a group of banks including J.P. Morgan, Citi, BNP Paribas, Barclays and Lloyds Banking Group.  

The funding will be used for product development and to expand into other areas across the financial services industry.  

Acin raised $12m in series A funding in 2020. The latest round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.  

Founded in 2017 and headquartered in London, Acin’s platform for banks and other financial services organisations transforms their risk control content into data for anonymised benchmarking and sharing of best practice. 

Paul Ford, chief executive officer and founder of Acin, commented: “This investment demonstrates that the market shares our vision of transforming risk management with data across the entire financial sector. This strategic consortium is a testament to the shared vision of banks and a strong signal that there is a shared commitment to addressing operational risk from leaders within the industry.” 

Julian Liau, chief controls manager at J.P. Morgan, said: “We have been working with Acin for the past three years, during which they have supported our established operational risk management and assessment practices.  

“We are delighted to invest in Acin to support their network to grow through effective industry collaboration.” 

Image: Acin