Anti-fraud FinTech Quantexa raises $153m

UK FinTech Quantexa has raised $153 million in a Series D funding round.

The FinTech, founded in 2016, provides software which aims to help financial services institutions fight financial crime and manage data.

The funding round was led by US private equity firm Warburg Pincus, while existing investors including HSBC and ABN Amro Ventures also joined the round.

The round gives Quantex a valuation of between $800 million and $900 million.

The FinTech said its clients include HSBC, Standard Chartered and Danske Bank, and that it also has partnerships with Google and Microsoft.

Quantexa cited figures from IDC which estimate the size of the anti-fraud services market at around $114 billion annually.

"Quantexa’s proprietary technology enables clients to create single views of individuals and entities, visualised through graph network analytics and scaled with the most advanced artificial intelligence technology," said Adarsh Sarma, managing director and co-head of Europe at Warburg Pincus. "The company's impressive growth to date is a reflection of its invaluable value proposition in a massive total available market, as well as its continued expansion across new sectors and geographies."

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