Hawk AI raised $10 million in a Series A funding led by BlackFin Capital Partners and joined by Picus Capital

Hawk AI, a Munich, Germany-based SAAS developer of cybersecurity solution for preventing financial crimes, announced the completion of a $10 million series A funding round.

The money was raised from fintech specialist BlackFin Capital Partners leading the investment round and Picus Capital expanding its existing share.

Proceeds will be used to expand in Europe, the US, Singapore and the United Arab Emirates. Additionally, Hawk AI expects to double its employee headcount by the end of 2022.

Hawk AI, founded in 2018 by Tobias Schweiger and Wolfgang Berner, develops a software platform for banks, payment firms and fintechs used for the detection of transactions linked to financial crime.

The software identifies patterns of suspicious activity in financial transactions with the help of artificial intelligence and provides anti-money-laundering experts with highly relevant, actionable alerts. With Hawk AI, financial institutions can ensure regulatory compliance at significantly lower cost. Through its cloud-native, modular and open architecture, the solution can be quickly integrated with existing banking and payment systems to deliver immediate benefits.