AMLYZE, a pioneering RegTech company, has closed a $1 million pre-seed financing round to further develop its anti-financial crime solutions for FinTechs, neo-banks, and crypto firms. AMLYZE is a SaaS company headquartered in Vilnius, Lithuania, that offers a variety of products designed to combat money laundering and other forms of financial crime. Real-time and historical transaction monitoring, client risk analysis, and anti-money laundering (AML) investigations are only some of their comprehensive modules. The Lithuanian accelerator FIRSTPICK, which has been an early backer of AMLYZE from the start, also participated in the pre-seed round.
Practica Capital acted as the round’s lead investor, while Firstpick, an accelerator and venture capital firm, also participated. AMLYZE plans to use the funds to expand its SaaS company on a global scale, open up new international markets, and add cutting-edge features to its flagship products. With these improvements, AMLYZE will be able to provide its customers a full spectrum of integrated compliance services. One of the Baltics’ most prominent venture capital firms, Practica Capital, has publicly endorsed AMLYZE’s goals.
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Rising global regulatory scrutiny
AMLYZE has seen a rise in demand for its transaction monitoring, risk assessment, and case investigation services, particularly amongst its existing clientele in the Baltic States and the United Kingdom. The United Nations Office on Drugs and Crime (UNODC) estimates that financial crime accounts for between 2 and 5 percent of yearly worldwide GDP, which equates to between €715 billion and €1.87 trillion. This staggering amount calls for creative approaches to combating the problem. The necessity of anti-financial crime and sanctions compliance has been further emphasized by the rising global regulatory scrutiny that has been spurred by issues such as money laundering, terrorism financing, cyber security threats, and geopolitical tensions.
Words from Eminent Personalities
Gabrielius Bilkštys, CEO and co-founder of AMLYZE, stated: “As our mission is to help the world overcome financial crime, we have assembled a core team comprising seasoned IT and Anti-Financial Crime professionals, as well as former regulators and supervisors with backgrounds in central banking and law enforcement. We consider ourselves industry experts who possess an insider’s perspective on the sector, enabling us to assist financial institutions in meeting escalating regulatory requirements and enhancing their compliance efficiency.”
“Given the significant knowledge and experience that has been accumulated across all levels of the FinTech ecosystem in Lithuania over the last decade, it comes as no surprise that a company like this has emerged here. AMLYZE, bringing together an outstanding core team on a clear mission, has firm ground and the potential to bring category-defining products to the vast and growing market,” commented Donatas Keras, Founding Partner of Practica Capital.
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Marijus Andrijauskas, partner of FIRSTPICK, said: “The surge in demand for AMLYZE’s anti-financial crime solutions comes as no surprise given the increasing regulatory scrutiny worldwide, which threatens the growth of the FinTech industry. We, at FIRSTPICK, are proud to support AMLYZE’s mission to combat financial crime and help FinTechs comply with increasing regulations. With their expert team and comprehensive suite of compliance services, AMLYZE is well-positioned to drive innovation in the industry and streamline compliance processes for their clients.”
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