Amlyze, a RegTech startup based out of Vilnius, has scored $1m in a pre-seed investemtn rounded headed by Practica Capital.
Also participating in the raise were Lithuania’s Firstpick accelerator as well as its venture capital fund.
Founded in 2019, Amlyze offers fully integrated solutions that aims to make the compliance process for users much more accessible, smoother, and efficient.
The company said it offers a sustainable solution to minimize financial and white-collar crime. The firm has a goal to help its clients not only to fulfil their compliance obligations imposed by the regulators but to increase security levels to a higher level, actualizing companies’ internal standards and avoiding reputational and financial damage.
According to Finextra, Amlyze – a firm that has a current client base primarily located in the Baltic States and the UK – intends to use the new funds to expand internationally and to introduce new core functionalities.
Amlyze CEO and co-founder Gabrielius Bilkštys said, “We have assembled a core team comprising seasoned IT and anti-financial crime professionals, as well as former regulators and supervisors with backgrounds in central banking and law enforcement. We consider ourselves industry experts who possess an insider’s perspective on the sector, enabling us to assist financial institutions in meeting escalating regulatory requirements and enhancing their compliance efficiency.”
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