FNA raises $5.5m for AI-driven regtech
FNA has completed a $5.5 million Series A investment round led by IQ Capital, with participation from Gettylab.
The funds will be used to further develop the FNA platform and solutions to help financial regulators and institutions operationalise advanced data analytics, identify fault lines in the financial system and prepare for any financial crisis or cyber threats.
Founded in 2013, FNA is a London-based regtech that uses its network analytics, artificial intelligence (AI) and machine learning (ML) platform to enable financial institutions to map and monitor complex financial systems, and to simulate operational and financial risks.
FNA works with regulators to better manage systemic risk and to understand risk concentrations to simulate operational risks that may happen on payments platforms and banks. This optimises liquidity and manages financial crime risks.
“FNA is set out to make the global financial system safer and more efficient through a better, data driven, understanding of the interconnectedness of market participants,” says Dr Kimmo Soramäki, founder and CEO, FNA. “This investment comes at a critical time for FNA as the market searches for new solutions to counter new threats to the financial system.”
The company plans to build on its global footprint, particularly in the US and Asia Pacific, and expand beyond its existing client base of central banks, regulators and FMIs (Financial Market Infrastructures).
FNA sees rapidly increasing demand in sectors such as banking and national intelligence. Beyond team expansion, this investment will allow FNA to continue to invest in its core technology and enhance its already deep academic partnerships.
