Dossier co-founders speaking at an event organized by Meta
Dossier, a Singapore-incorporated regtech startup aiming to revolutionize financial crime investigation and due diligence, has secured undisclosed pre-seed funding from Singapore-based nVentures.
The funding will be used to expand the team and accelerate product development. The company, currently consisting of just the two co-founders, plans to grow its workforce and further develop its AI-driven toolkit.
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“We’re not just another compliance tool,” said Nisal Periyapperuma, CEO of Dossier. “We’re building an AI-driven ecosystem that adapts to the ever-changing landscape of financial crime.”
“Our goal is to become the go-to regtech solution for tier-3 financial institutions in emerging markets,” Yudhanjaya Wijeratne, Dossier’s co-founder and CRO, added. “These are the entities often overlooked by big players but are crucial for financial inclusion.”
Founded in 2024 by serial entrepreneurs Periyapperuma and Wijeratne, Dossier has developed an AI-powered risk operating system initially focused on anti-money laundering (AML) and customer screening.
Dossier, based in Sri Lanka, distinguishes itself from traditional compliance tools by offering an adaptive AI system that continuously learns and evolves, unlike static databases. The startup’s suite of compliance products aims to simplify operations for institutions by potentially eliminating the need for multiple vendors.
The firm has already secured two paying customers.
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Despite the advantages of its AI-centric approach, Dossier faces challenges in the rapidly changing AI landscape, requiring constant innovation to maintain its competitive edge.
The startup’s global competitors are LexisNexis and Chainalysis.
Regtech is a rapidly growing market which is projected to reach US$26.78 billion by 2032, driven by increasing regulatory pressure and the digital transformation of financial services.
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