Although technology removes global commerce barriers and allows access to new open markets, it also opens up a pandora’s box of financial crimes. According to a study, a whopping $181B (nearly €155.4M) was spent on financial crime compliance by financial institutions in the key markets of APAC, EMEA, LATAM, and North America – with EMEA contributing nearly $138.8B (nearly €119.2). This is where data intelligence platforms like Ripjar come into play.
Money in the jar
UK-based fintech startup, Ripjar, has raised €31M in a Series B round of funding from Long Ridge Equity Partners. To date, the company has raised over €51M, with existing investors including Winston Capital and Accenture.