AI-powered regtech has secured $5.5m Series A investment

A London-based regtech company has announced it has closed a $5.5m Series A funding round.

FNA, which specialises in regulatory and supervisory technology, has secured the funding in a round led by IQ Capital with participation from GETTYLAB.

Founded in 2013, FNA specialises in using AI and machine learning to enable financial institutions to map and monitor their systems and simulate risks.

The firm will use the funding to boost its ongoing growth beyond its existing client base of central banks and build on its global footprint, particularly in the US and Asia Pacific.

FNA founder and CEO Dr Kimmo Soramäki commented: “FNA set out to make the global financial system safer and more efficient through better, data driven, understanding of the interconnectedness of market participants.

This investment is a testament to the work we’ve done with our central banking, regulatory and FMI clients.“

Kerry Baldwin, managing partner at IQ Capital, added: “FNA’s offering is truly unique and their pioneering work in Network Analytics has produced a platform that has the potential to revolutionise the way risks are managed.

“IQ Capital felt it important to facilitate the continued growth of FNA and to be involved with such groundbreaking technology.”

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