Acin secured $12 millin in Series A funding led by Notion Capital

Acin, a London, UK-based provider of regulatory solutions for the financial industry, announced the completion of series A funding round of $12 million.

The money was raised from UK investors led by Notion Capital and including Fitch Ventures as well as angels Cris Conde, Christopher Carter, and Carlos Gonzales-Cadenas.

The company is working for adding strategic investors to join this round in a second closing.

Proceeds will be used to enhance the company's cloud-based Terminal with additional inventories of risks and controls, software extensions and integrated benchmarking. This will provide financial institutions with a complete front-to-back-office solution to assess and manage their operational and non-financial risks. With extensive applications beyond financial services, Acin will expand its solution into further sectors over time.

Acin, founded as Anchura Group in 2018 and led by CEO Paul Ford, develops solutions combining technology and data standardisation to digitise non-financial risk, with an industry-wide network that connects users within and across organisations, currently 14 tier-one banks. The system allows members to fully digitize and quantify their operational and non-financial risks and enables them to manage these risks using data science, as well as comparing with, and learning from, peers.