Software provider Hawk AI has raised EUR 17 million in fresh capital in a Series B funding round. The investor group is led by Sands Capital, with other investors including DN Capital, Coalition, BlackFin Capital and Picus Capital. A team from Taylor Wessing, led by Berlin partner Dr Norman Röchert, advised the Munich-based start-up on all legal issues in connection with the financing round. The VC expert already advised Hawk AI on the Series A financing round in 2021.
Founded in 2018 by Wolfgang Berner and Tobias Schweiger, the company develops software that uses artificial intelligence to detect suspicious transactions in real time and reduce the rate of false positives. Hawk AI aims to provide the world's leading software services to fight financial crime, focusing in particular on banks and financial service providers as well as fintechs. According to the company, the number of customers more than doubled within a year to 50. Hawk AI also work with well-known partners such as Visa and Lexis Nexis.
Rapid expansion already took place following the earlier financing rounds, starting in Europe, followed by the US market. Hawk AI is now also active in Asia and plans to further expand its market position there with the new investor capital.
