Vilnius-based regulatory technology company AMLYZE has secured a €2.35M Seed funding to expand its anti-financial crime services for banks, fintechs, and Virtual Assets Service Providers (VASPs).
In May 2023, AMLYZE secured €1M in its pre-Seed round led by Practica Capital, with participation from FIRSTPICK.
Investors in the Seed round
The Seed funding round was led by Practica Capital, a venture capital firm dedicated to backing Baltic founders. Earlier this year, the VC firm closed its third vintage and largest fund to date, Practica Venture Capital III, at €80M.
AMLYZE’s Seed round saw support from FIRSTPICK, Coinvest Capital, co-investors including Gintas Balčiūnas, CEO of Dokobit, Donatas Dailidė, CEO and Chairman of DOJUS Group, and NGL, the Lithuanian business angel syndicate of 33 business angels.
International investors including Advanzia Bank, the European digital bank based in Luxembourg, also participated in this round to help AMLYZE serve larger corporate and institutional clients.
Donatas Keras, Founding Partner at Practica Capital, says, “Our continued support for AMLYZE in their mission to enhance financial compliance through innovative technology reflects our confidence in their solution, the caliber of their team, and their long-term vision. Their solutions are not only timely but essential in today’s complex financial landscape.”
“We are excited to see how their new platform will enhance anti-financial crime measures across borders,” adds, Matas Ramanauskas, Investment Manager at Coinvest Capital.
Capital utilisation
Gabrielius Erikas Bilkštys, CEO of AMLYZE, says, “Securing this Seed investment empowers us to fast-track our growth and broaden our reach. Our upcoming platform is set to revolutionise information sharing among financial institutions, significantly contributing to a safer and more secure financial ecosystem.”
The funds will help develop a cross-border information-sharing platform for anti-financial crime, using artificial intelligence and synthetic data. This platform aims to enhance AMLYZE’s solutions by streamlining compliance processes and improving efficiency for financial institutions globally.
Simplifying compliance
Founded in 2019 by Gabrielius Bilkštys and Alexandre Pinot, AMLYZE is a regtech SaaS provider offering a comprehensive suite of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) solutions for financial service providers.
Its offerings include real-time transaction monitoring, customer risk assessment, and PEPs, sanctions, and adverse media screening. AMLYZE’s latest innovation, a cross-border information-sharing platform, caters to fintechs, neo-banks, FIUs, and regulators.
AMLYZE aims to enhance efficiency and effectiveness in anti-financial crime processes.
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