Marlin Equity Partners has acquired a majority stake in UK financial crime RegTech Napier AI, though the terms of the deal remain undisclosed.
Napier AI, headquartered in London and founded in 2015, specializes in AI-enhanced compliance software for financial crime and regulatory needs, specifically focusing on AML screening for the banking, payments, and wealth & asset management sectors.
The company’s technology is utilized by over 100 institutions, including HSBC, State Street, Mizuho, and Starling, to detect, monitor, and report criminal or suspicious activities.
In the previous year, Napier AI secured £45 million in funding from US-based Crestline Investors. This recent investment from Marlin is expected to bolster Napier AI’s market position through further research and development and facilitate its global expansion efforts.
Mike Wilkinson, a managing director at Marlin, remarked on Napier AI’s strategic approach and innovative product offerings, noting that as the regulatory landscape becomes increasingly complex, this AI-driven compliance platform is well-suited to support growth in the global anti-financial crime market.
Greg Watson, CEO of Napier AI, emphasized the importance of modern, AI-driven solutions in combating the evolving threats of financial crime. He expressed enthusiasm about partnering with Marlin at a crucial stage in their growth, aiming to expand the Napier AI brand worldwide.