Themis, the provider of a technology platform for managing financial crime risk, has secured £3.1m in a pre-series A funding round.
The capital will support expected growth from crack downs on anti-money laundering (AML) failings. Last year, global AML and other financial crimes surged by 50%.
Themis uses artificial intelligence and machine learning to detect potential links to financial crime.
Founded in 2018, Themis reported a 57% growth in revenues in 2022 compared to the previous year.
After the latest round of funding, the UK-based company is now valued at £15.4m. It comes on the back of a £1.67m seed round in 2021.
Matthew Hurn, chairman of Themis, commented; “An estimated 2.7% of global GDP is lost every year to money laundering and associated crimes, enriching criminals and organised crime groups at the expense of people, businesses and our planet, so the importance of ramping up our collective ability to detect and disrupt these threats cannot be underestimated.
“Through its technology, insight and intelligence, Themis aims to help individuals, businesses, not-for-profit organisations and governments to address their financial crime risks.”
Matt Deacon, chief technology officer at Themis, added: “We have developed a simple search engine that enables you to find out if your clients, suppliers or indeed any other people or companies you use, have criminal records or any links to illicit activity.
“Our platform can tell you if they are on any international sanctions lists, own or are directors of any companies or offshore vehicles anywhere around the world, have political exposure and influence or simply have adverse media about them.”