Reykjavík, Iceland-based Lucinity, an anti-money laundering (AML) software company, announced on Thursday that it has raised $17M (approximately €16.69M) in a Series B round of funding led by Keen Venture Partners.
Robert Verwaayen, General Partner at Keen Venture Partners, says, “Banks and FinTechs are stuck between a rock and a hard place where compliance is a big headache for them, and they are trying to wrap their heads around how to approach it in a truly risk-based fashion. We are extremely excited about Lucinity’s platform and its promise to address the global issue of financial crime.”
“Make Money Good”
Founded in 2018 by Gudmundur Kristjansson, Lucinity is an anti-money laundering (AML) software developer on a mission to “Make Money Good”. The company aims to solve productivity and efficiency issues for financial institutions through its ‘Human AI’ approach, a toolset that combines next-gen AI with human insights and expertise.