Financial crime compliance platform Castellum.AI has announced that it received USD 8.5 million in a Series A round led by Curql.
In addition to Curql, Castellum.AI’s Series A round also saw participation from BTech Consortium and Framework Venture Partners. Additionally, existing investors from Spider Capital, Remarkable Ventures, and Cameron Ventures participated in the round. With the newly acquired capital, the company, which provides in-house risk data, AML and KYC screening, and AI agents, seeks to integrate more deeply with financial institutions, allowing compliance teams to access its secure and explainable AI.
Commenting on this achievement, representatives from Castellum.AI emphasised their company’s commitment to helping financial services identify and prevent financial crime. With the Series A funding coming from credit unions and banks, it validates the platform’s capabilities, as well as its market alignment.
Castellum.AI’s offering
Castellum.AI’s AI agents have passed a CAMS practice exam, a prerequisite for central financial crime roles. The training was delivered by former regulators and covered AML and KYC best practices along with regulatory guidance from the OCC, NCUA, NY DFS, California DFPI, and other financial services regulators. The company contacted ACAMS to have its AI agent sit for an exam in a proctored environment and obtain an official CAMS certification; however, at the time of writing, it had not yet received a response.
Furthermore, by integrating the AI agent with detailed audit records for each decision, Castellum.AI aims to help institutions deploy an AI agent that complies with regulatory requirements for financial crime prevention. Additionally, the company works with clients on modular implementation that incorporates each institution’s risk requirements and procedures, reducing switching costs.
Castellum.AI also provides clients with direct oversight of their compliance process, using its patented data collection and machine learning enrichment process to gather sanctions, PEPs, adverse media, and other risk data from original sources. This data enables the company’s screening and monitoring system to alert clients to their risk exposure in real time.
