Raises US$17M in Series B –

July 11, 2022

Lucinity: Raises US$17M in Series B –

LucinityReykjavik, Iceland-based anti-money laundering (AML) software developer has closed a $17 million Series B funding round
The the round was led by Keen Venture Partners with participation from Experian and existing investors Crowberry Capital, Karma Ventures and byFounders
The company intends to use the funds to accelerate the growth and geographic reach of its Human AI technology
The company provides anti-money laundering (AML) software that uses a “human artificial intelligence” approach, a set of tools that combines next-generation artificial intelligence with human insights and expertise
Using artificial intelligence, AML software learns from every interaction and continues to improve endlessly, ensuring fewer false positives and saving time