Highlights:

  • Existing investors Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and Albion VC participated in the Series E round, which GIC headed.
  • Quantexa relaunched itself as a “decision intelligence” platform after beginning as a provider of fraud detection technologies based on artificial intelligence for the financial services industry.

Recently, Quantexa Ltd. announced that the company has closed a massive late-stage fundraising round of USD 129 million.

Existing investors like Warburg Pincus, Evolution Equity Partners, British Patient Capital, Dawn Capital, HSBC, ABN AMRO, BNY Mellon, and Albion VC participated in the Series E round, which GIC headed. The financing comes fewer than 18 months after its Series D fundraising of USD 157 million, bringing the company’s worth to USD 1.8 billion.

Quantexa relaunched itself as a “decision intelligence” platform after beginning as a provider of fraud detection technologies based on artificial intelligence for the financial services industry. The business has pioneered a machine learning-based method for sifting through corporate data for indicators of suspected fraud, money laundering, and other illegal actions.

Its contextual decision intelligence models aid in evaluating risk and compliance and identifying illegal financial activities. They show the study’s findings as quickly consumable graphs, allowing users to gain a more profound knowledge of the links between various legal organizations.

Quantexa, which began in the financial services industry, has moved into other industries vulnerable to financial crime, including healthcare, government, and insurance. It has also diversified to apply its decision intelligence to a broader range of use cases, such as creating more comprehensive customer profiles for Know Your Customer compliance. Quantexa’s software is also utilized in the government sector to discover people trafficking and other illegal operations.

According to the firm, the decision intelligence sector is now worth more than USD 230 billion annually, and recent financing will enable it to pursue a significantly larger share of that market. It recently purchased Aylien Ltd., an Irish natural language processing and artificial intelligence business, and has grown its yearly recurring income by more than 100% since its last investment round on an anonymous basis.

Its platform has clients in over 70 countries, including BNY Mellon, Danske Bank A/S, HSBC, Standard Chartered Plc, Vodafone Group Plc, and the U.K. Cabinet Office’s Public Sector Fraud Authority.

Over the past year, the number of employees has expanded from 500 to 650 due to the company’s increasing income and client base. It also expanded by building new offices in York City, Amsterdam, and the United Arab Emirates, last November, with additional Technology and Analytics Hub in Malaga, Spain.

Quantexa plans to enhance the capabilities of its decision intelligence platform by including additional low-code data fusion, machine learning, graph analytics, natural language processing, and artificial intelligence features. Additionally, the business will work with Google LLC, Deloitte Touche Ltd., Accenture Plc, and others to speed up its go-to-market initiatives.

Vishal Marria, Quantexa’s Chief Executive, said, “This infusion of capital will fuel further innovation, diversification, and expansion and opens exciting options for our future.”