FNA has closed a $5.5 million Series A funding round led by IQ Capital, with participation from GETTYLAB.

The funds will be used to further develop the firm’s solutions to help financial regulators and institutions operationalise advanced data analytics, identify fault lines and prepare better for cyber threats.

Founded in 2013, the London-based RegTech and SupTech company uses its network analytics and machine learning platform to enable financial institutions to map and monitor complex financial systems. FNA works with global regulators to better manage systemic risk, understand risk concentrations and simulate operational risks. It also works with payments platforms and banks to optimise liquidity and manage financial crime risks.

Due to continued client growth, the company plans to build on its global footprint, particularly in the US and Asia Pacific, and expand beyond its existing client base of central banks, regulators and financial market infrastructures. FNA stated that it sees rapidly increasing demand in sectors such as banking and national intelligence.

Beyond team expansion, this investment will allow FNA to continue to invest in its core technology and enhance its academic partnerships.

“This investment is a testament to the work we’ve done with our central banking, regulatory and FMI clients,” said founder and chief executive Kimmo Soramäki. “It comes at a critical time for FNA as the market searches for new solutions to counter new threats to the financial system.”

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