Financial anti-crime startup Quantexa snags $153m to accelerate growth

UK-based Quantexa has raised $153m in a funding round led by Warburg Pincus along with a slew of undisclosed blue-chip investors as it seeks to accelerate regional expansion and develop new products in areas including banking and insurance.

Existing investors Dawn Capital, AlbionVC, Evolution Equity Partners, HSBC, ABN AMRO Ventures, and British Patient Capital also followed on. The backing, which follows a Series C round last July, will come as a major boost to Quantexa, whose data analytics platform is used to tackle fraud and white collar crime.

Quantexa will use the investment to accelerate its plans for regional market expansion and build out its product portfolio development further in areas such as data management and industry verticals including banking, insurance, public sector, and technology, media and telecom. It will additionally look for inorganic growth opportunities as part of its corporate strategy.

Founded in 2016 by Imam Hoque, former managing director of fraud and financial crime EMEA/AP at SAS, and Vishal Marria, former executive director at EY, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, financial crime, customer intelligence, credit risk, fraud and throughout the customer lifecycle.

Using Quantexa’s CDI platform, organisations can create a scalable, true single customer view of data and deploy new data and analytics technologies such as entity resolution, graph analytics and AI, to create graph-based network views, supporting any number of use cases, all from a single software platform. Furthermore, companies are able to boost their risk and compliance programs at a time when cloud migration, digital transformation and resilience have never been more important.

Deployed across more than 70 countries with thousands of users, Quantexa serves blue-chip banks, insurers and government organizations globally, including 7 of the top 10 UK and Australian banks and 6 of the top 14 financial institutions in North America, with flagship customers such as HSBC and Standard Chartered Bank. Quantexa has also established a growing ecosystem of partners, including Accenture, Deloitte, Microsoft and Google.

Commenting on the round, Marria said, “What excites us most is the growing demand we see across sectors for enterprises to realize meaningful value from their data across the organisation. Quantexa is supporting customer innovation so they can make trusted operational decisions. We have seen the need for Contextual Decisioning Intelligence (CDI) increase exponentially within the financial sector and with this round, we are able to capitalise on the growing demand for CDI across multiple new sectors in a market worth over $114bn according to IDC.”

Moreover, Quantexa is leading the charge with data for good, and their technology is now being used in areas such as anti-human trafficking.

Warburg Pincus managing director and co-head of Europe Adarsh Sarma said, “Quantexa’s proprietary technology enables clients to create single views of individuals and entities, visualized through graph network analytics and scaled with the most advanced AI technology. This capability has already revolutionized the way KYC, AML and fraud processes are run by some of the world’s largest financial institutions and governments, addressing a significant gap in an increasingly important part of the industry.”

Copyright © 2021 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.