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September 8, 2023

Strise’s $10.8M Boost to Harness AI Against Financial Crime

Uncovering the $1.6 Trillion Challenge: Strise's AI-Driven Battle Against Financial Crime

Financial crime is a mounting global concern, with approximately $1.6 trillion laundered annually, posing a significant threat to the world economy. As fines for financial wrongdoing surged to nearly $5 billion in 2022, the need for effective solutions is evident.

Norwegian firm Strise, a pioneer in anti-money laundering (AML) intelligence software, leverages the power of AI to combat financial crime. Recently, the company secured $10.8 million in Series A funding, with Atomico, known for backing successful startups like TestGorilla and Vaayu, leading the charge.

This funding is set to drive Strise's expansion into key European markets, starting with the UK, and bolster its presence in the financial, insurance, legal, and related sectors. Additionally, Strise aims to enhance its end-to-end AML product, further establishing itself as a disruptive force in the battle against financial crime.

Marit Rødevand, CEO and co-founder of Strise, emphasizes the importance of embracing AI to combat complex financial crimes efficiently, protect reputations, and ensure compliance.

Atomico Partner Don Hoang, with extensive experience at Uber and Revolut, highlights Strise's impact, with clients reporting remarkable reductions in diligence time and cost savings since implementing the system.

Founded in 2019, Strise combines a robust knowledge graph with AI and natural language processing to provide intelligent insights for simplified customer onboarding and risk-based AML processes. With SOC 2 certification, Strise ensures data protection and compliance with privacy standards, making it a vital ally in the fight against financial crime.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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