Singapore-based anti-money laundering solutions provider Tookitaki has secured an undisclosed sum in strategic investment from True Global Ventures (TGV) Opportunity Fund.
This capital will fuel Tookitaki’s expansion across Asia. It aims to deliver anti-financial crime solutions to financial institutions in regions where compliance with anti-money laundering (AML) and fraud prevention regulations is becoming increasingly critical.
Established in 2019, Tookitaki has developed two platforms. The FinCense platform features AML transaction monitoring, customer risk scoring, customer screening, regulatory compliance, case management, and customer due diligence.
Also Read: Thunes picks majority stake in Tookitaki for over US$20M
The AFC Ecosystem platform, on the other hand, brings together industry experts and institutions to continuously update and refine crime detection models, offering unparalleled real-time collective intelligence.
The company claims to have monitored over 10 billion transactions across 100 million consumers among its clients.
Beatrice Lion, General Partner of True Global Ventures, stated: “As regulatory standards tighten and financial crime evolves, Tookitaki’s platforms provide scalable, AI-driven solutions for AML and fraud prevention that will help institutions stay ahead of these challenges.”
In 2022, Singapore-based cross-border payments firm Thunes picked a majority stake in Tookitaki for US$20 million.
True Global Ventures is a global VC firm focusing on technology-driven businesses, particularly in AI, blockchain, and other disruptive industries. The TGV Opportunity Fund invests in late-stage technology companies with the potential to drive transformative change.
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