Arachnys secures USD 10 million to fund KYC risk tools expansion

Friday 5 October 2018 08:15 CET | News

Arachnys has completed a USD10 million Series A funding round led by QED and other investors.

The company is a specialist in Customer Risk Intelligence solutions for Know Your Customer (KYC), Anti Money Laundering (AML) and Enterprise Due Diligence (EDD). Arachnys aims to use the proceeds to accelerate product R&D, expand go-to-market efforts and further develop strategic partnerships integrating its cloud platform within established compliance and onboarding platforms.

The company will also establish a new delivery and implementation organisation to satisfy demand within its growing pipeline for global deployments of its Customer Risk Intelligence solutions.

During 2018, Arachnys doubled its business and secured new tier one enterprise deployments of its cloud-native, Customer Risk Intelligence platform in North America, Western Europe and Southeast Asia.

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Keywords: Arachnys, funding, KYC, AML, onboarding, CDD, online security, fraud prevention, risk intelligence
Countries: World

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