Themis raises GPB 3.1 million in a Pre-Series A funding round

The company plans to use the funds to improve and further develop its automated due diligence platform, Themis Search and Monitoring, which was launched in 2020. This product allows users to screen their clients, suppliers, and investors against sanctions watchlists, PEPs, litigation, adverse media, criminal convictions and corporate registries. It also offers 24-hour ongoing monitoring of legal entities and individuals. 

The company leverages advanced AI and ML technology, as well as threat-based data, research and intelligence in order to detect potential connections to financial crime. Its AML software offers a simple way to conduct screening, KYC onboarding, risk mapping, enhanced due diligence, and automated monitoring to make sure that customers are not getting into business with companies, entities or individuals that have criminal records or engage in different forms of financial crime. 

Themis officials cited by fintech.global explained how their system can identify people who are on international sanctions lists, have political exposure and influence, or simply have adverse media about them. They also emphasised how the platform’s users can perform checks related to criminal associations by leveraging more than 505 million data points. 

In essence, the Themis platform was designed to make sure that companies know exactly who they are dealing with, whether we’re talking about hiring new talent, considering a new client, looking for a new supplier, making an investment, or employing a new contractor.

More information about Themis Search and Monitoring 

While enabling users to screen their clients and monitor the activities of legal entities and individuals, some features of the Themis platform stand out:

• It allows clients to perform automated daily ongoing screening across all of their customers, suppliers or investors. 
• It can perform immediate ID&V checks (including biometric facial recognition as well as ID document validation) on an individual. 
• It performs searches on any counterparties (both companies and individuals) linked to an original search and to as many degrees of separation chosen by the user. 
• It can all of these out in a highly interactive risk map, showing associated companies, individuals and red flags down the chain or decision tree. 

The Themis API can connect Themis Search and Monitoring to any system or app thus allowing users to screen their clients for financial crime threats from their own app or CRM. According to fintech.global, Themis has reported a 57% growth in revenues in 2022 when compared to 2021.