AML firm raises $30 mill
Anti-money laundering compliance firm First AML has raised $30 million.
Tuesday, November 2nd 2021, 7:48AM
First AML has raised $30 million in a Series B funding round led by Blackbird Ventures and international investor Headline, together with renewed commitments from existing investors Bedrock Capital, Icehouse Ventures and Pushpay founder Eliot Crowther.
Since launching in 2017 the company has expanded into Australia and. on the back of this capital raise, will expand into Europe and double its headcount from 90 to 180 employees.
First AML is used by financial service providers, law firms, real estate agencies, and accountants to streamline their anti-money laundering compliance processes and minimise risk.
"The market for AML has grown nearly 20% in the past year to US $214 billion - there is a massive global market opportunity for us now," First AML’s co-founder and CEO Milan Cooper says.
"With groundbreaking investigations around tax havens and money laundering across multiple countries, the AML compliance regime is now shifting to non-financial businesses globally."
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