Hawk, an AI-powered technology for fraud prevention and AML firm, has announced an expansion of its Series B financing round.
Macquarie Capital joins a robust group of investors including Rabobank, BlackFin Capital Partners, Sands Capital, DN, Picus, and Coalition in this funding initiative.
The investment sum, which increases the total Series B to $144m, will primarily fuel Hawk’s international expansion. This strategic move comes amid a spike in demand for AI-driven solutions aimed at combating financial crimes globally.
Hawk’s core business revolves around the deployment of advanced, explainable AI technologies that significantly bolster the capabilities of financial institutions in detecting and preventing financial crime. Their systems are designed to ensure strict adherence to AML and CFT regulations while offering a unified solution for AML, sanctions screening, and fraud prevention.
The new funds are earmarked for further technological advancement and market expansion. Hawk aims to leverage Macquarie Capital’s expertise and network to extend their reach, particularly in the Asia-Pacific and US markets, enhancing their client base and further establishing their presence in these regions.
Founded in 2018 by veterans of the finance industry, Hawk has seen rapid growth and now monitors or screens billions of transactions globally. Their innovative approach to using explainable AI has set new standards in the industry, reducing false positives and uncovering new types of criminal activity more effectively than traditional systems.
Hawk CEO and Co-founder Tobias Schweiger expressed his enthusiasm for the partnership, noting, “We’re delighted that Macquarie Capital has chosen to work with Hawk. The global banking sector has recognized the enormous potential of AI in preventing, detecting, and managing financial crime. Leveraging Macquarie Capital’s network and experience scaling successful risk software businesses will enable us to further expand our client base in Asia-Pacific, the US and beyond.”
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