6 years ago

Mimiro Raises €26 Million to Fight Financial Crime with AI

  • Mimiro, a London-based startup, has raised €26 million in a Series B funding round led by Index Ventures, with participation from existing investor Balderton Capital

  • Mimiro's AI platform helps companies combat financial crime by verifying parties and transactions, reducing manual checks

  • The company has 350 clients in 45 countries, including major global banks

  • The funding will be used to expand Mimiro's platform and reach.

      • ProblemTechnology

      "Financial crime is a growing problem, and companies are struggling to keep up with the ever-changing landscape of risk. Traditional methods of verifying counterparties and payments are slow, manual, and often inaccurate. This can lead to companies losing out on commercial opportunities, being fined for facilitating illegal activity, and damaging their reputation."

      Solution

      "Mimiro's AI platform uses deep learning and machine intelligence to analyze millions of data sources daily, building a holistic snapshot of an entity's risk in real-time. This allows companies to quickly and accurately assess the risk of financial crime, and make better decisions about who they do business with. Mimiro's platform is also customizable, allowing clients to focus on parameters that are particularly relevant to them."

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