Tookitaki, a RegTech platform building “sustainable compliance management”, has reportedly raised $11.2m in funding.
Viola FinTech and SIG supplied the capital to the Series A, which adds to the $7.5m Tookitaki raised in March 2019, according to reports in the media.
Investors to the initial Series A round were Illuminate Financial, Jungle Ventures, Enterprise Singapore and VWX Capital.
Tookitaki combines AI and machine learning technology to help firms build compliance solutions. One of its current solutions is the end-to-end machine learning model for anti-money laundering which monitors transactions and completes name screening to identify suspicious activity.
The other service provided by Tookitaki is its reconciliation suite which improves match rate, detect encryption types and recommend automatic reconciliations.
With the new funding, the RegTech is eyeing international expansion across Asia and the US.
Last year, Tookitaki teamed up with United Overseas Bank to support its fight against money laundering.
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