AI-powered anti-money laundering, screening, and fraud prevention company Hawk has successfully raised $56 million in a Series C funding round, led by One Peak.
Participating in the funding round were Macquarie Capital, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus, and Coalition, marking a significant investment for the German regtech firm.
Hawk’s innovative approach allows banks to move away from traditional rules-based methods for AML and fraud detection. The company claims that its AI-driven technology significantly enhances accuracy in identifying criminal activity while minimizing false positives.
Currently, Hawk serves over 80 customers worldwide, including major Tier 1 banks, mid-market financial institutions, and fintech companies. The new capital will partly be allocated to facilitate expansion into the US market.
Tobias Schweiger, CEO of Hawk, stated, “AI is in our DNA at Hawk. Our mission is to provide financial institutions with the technology, expertise, and support necessary to harness the transformative effects of machine learning and generative AI within their anti-financial crime operations.”