Hawk AI receives 17 million euros

The start-up has developed software to combat financial crime. According to its own figures, it quadrupled its turnover last year.

The Munich-based start-up Hawk AI has raised 17 million US dollars in a Series B financing round. Sands Capital from Washington D.C. led the round. Other investors include DN Capital, Coalition, BlackFin Capital and Picus Capital. Hawk AI now intends to use the capital to continue its global expansion and further develop its own product.

Hawk AI supports banks and financial service providers in the fight against financial crime. To this end, the start-up offers a platform based on a cloud infrastructure. Artificial intelligence is designed to strengthen the security system, detect suspicious cases and reduce the error rate. The company's turnover quadrupled in 2022 alone thanks to this technology.

Wolfgang Berner and Tobias Schweiger founded Hawk AI in 2018, and Georg Hauer, former Head of Germany at N26, joined the management team in 2021. In the same year, the start-up raised ten million US dollars in a Series A financing round to expand into the USA. Hawk AI now operates in over 60 countries on four continents and says it monitors billions of transactions.