Backing Hawk:AI to erase financial crime
Last December in Berlin, we were delighted to see Hawk:AI’s CTO Wolfgang Berner receiving Fintech Germany Award’s first prize in the Early Stage category.
Today we’re even happier to invest in Hawk:AI’s Series B, alongside Sands Capital, DN Capital, Coalition and Picus Capital.
The growing need for advanced fraud detection
On the one hand, if 2022 proved us something, it’s Financial crime is an increasing threat in today’s shifting world. Just think about the potential threats brought by some of the major changes we experienced during the past couple of months: Crypto, Fintech, Russia, or even Covid-19… There’s no doubt Financial crime accelerates by the minute.
On the other hand, today more than ever, financial institutions such as fintechs, PSP and banks can feel the increasing regulatory pressure on fraud detection and Anti Money Laundering. The shift towards instant payments is reinforcing the need for more advanced fraud detection solutions. The geopolitical context that we are in, with the fast acceleration of financial crime (e.g. ) makes us believe that the need for advanced fraud detection solutions has never been more pressing.
To put it in a nutshell, timing could not be better for Hawk:AI to capitalize on strong RegTech momentum.
A team with proven track record and exceptional execution skills
To fight against financial crime, the least you need is a robust team.
Not only have Hawk:AI’s founders and C-level executives a solid background filled with high ambition, but they also have a wealth of experience in the payments space, which is crucial for gaining credibility and trust in this industry. The Founders track-record has only been reinforced by the recruitment of highly skilled team at each level.
Moreover, we had plenty of opportunities to track how efficient the team is since we met Tobias and Wolfgang 3 years ago and invested in their company 18 months ago. Their execution skills are widely recognised and resulted in the following achievements:
A strong growth, Tier-1 customer references among fintechs, PSPs and banks won via RfP against main competitors in different continents. The fact they deliver so much with a limited team shows Hawk:AI’s tech competitive advantage and internationalisation.
A cutting-edge technology for fraud detection
The technology developed by Hawk:AI is top-notch.
At BlackFin, we strongly believe in the use of machine learning as a fondamental disruption for fraud detection, as our investments in B2B software companies such as Ravelin, Friss, or Akur8 tend to show.
Hawk:AI’s hybrid solution, which combines rules and an AI module to reduce false positives, is particularly impressive. Additionally, its scalability, ease of integration, and modular offering are key differentiators from competition.
Overall, we deeply believe that Hawk:AI is well positioned to address the growing need for advanced fraud detection solutions in the financial industry, and we are excited to continue supporting them in their growth. Keep on flying high Hawk:AI!
