London-based financial crime detection firm ComplyAdvantage has unofficially raised $20 million from the Growth Equity team in Goldman Sachs Asset Management. While the official press release states, “The terms of the transaction were not disclosed,” the firm raised $50 million in its Series C round back in July of 2020 from Ontario Teachers’ Pension Plan Board, Index Ventures, and Balderton Capital. ComplyAdvantage reports that the additional funding is earmarked to further fuel its rapid growth and adoption in the anti-money laundering, know your customer, and other financial crime detection sectors.

“We’ve seen first-hand the compelling benefits that ComplyAdvantage offers across a range of portfolio companies,” says Goldman Sachs’ James Hayward. “The company brings clear value to its clients and has grown at an impressive rate. We are excited to support the business as it continues to scale rapidly and help companies of all stages manage these critical risks.”

Founded in 2014 by Charles Delingpole, ComplyAdvantage provides machine learning and NLP-based solutions that mitigate financial risk, namely through and anti-money laundering and know your customer services. The company’s proprietary tech harnesses millions of data points and provides clients with real-time insights across sanctions, watchlists, politically exposed persons, and negative news.

ComplyAdvantage counts U.S. crypto exchange Gemini, the Australian payment app Beem It, and UK challenger bank OakNorth Bank amongst its client base.

“Financial services innovation is the catalyst for massive business transformation. Companies need a hyper-scale AML and risk solution as a financial crime deterrent,” comments Delingpole. “Goldman Sachs Asset Management is a great partner for ComplyAdvantage because they recognise the power of intelligent AML and risk detection not only to fortify businesses but also to help them introduce new services to market with greater confidence and integrity.”

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