Fintech Hawk AI secures $10 million in Series A funding

The round is led by French investor BlackFin Capital Partners. The anti-money laundering startup is now targeting global expansion.

Munich-based fintech Hawk AI has closed its Series A funding round with an investment of ten million US dollars. The round was led by Paris-based BlackFin Capital Partners, with Munich-based VC Picus Capital increasing its stake in the process. Hawk AI will use the money to strengthen its presence in Europe and the US, as well as expand into Singapore and the United Arab Emirates.

Hawk AI is - in its own words - Germany's leading software platform for banks, payment service providers and fintechs to fight financial crime. The startup was founded in 2018. The software uses artificial intelligence to identify suspicious patterns in financial transactions and provide alerts to anti-money laundering experts. Banks should be able to save costs as a result. "Cloud, AI and real-time analytics have long been established as technologies, with us they are also applicable in the privacy-sensitive and costly anti-money laundering processes of banks and payment service providers," says Tobias Schweiger, co-founder and CEO of Hawk AI. "This round of funding reflects the potential in this market and we are grateful for the support of our investors."

"In an increasingly dynamic market, Hawk AI stands out as the next-generation solution for transaction monitoring, with strong credentials not only in the mid-market but also in large, complex implementations," said Maxime Mandin, Investment Director of new investor BlackFin Capital Partners. "Since our investment last year, the Hawk AI team has proven their product market fit in Europe and the US, providing a strong foundation for scaling their solution internationally," said Florian Reichert, Partner and Managing Director at Picus Capital.