Tookitaki, a Singapore-based regulatory technology company for financial institutions to develop sustainable compliance programs, raised US$7.5m in Series A funding round.
The round was led by Illuminate Financial, with participation from existing backers Jungle Ventures, Enterprise Singapore, Supply Chain Angels, VWX Capital and senior banking executives. In conjunction with the funding, Mark Rodrigues, Partner at Illuminate, will join the Board of Directors at Tookitaki.
The company intends to use the funds to strengthen R&D capabilities.
Led by Founder and CEO Abhishek Chatterjee, Tookitaki is providing enterprise software solutions in the anti-money laundering and reconciliation spaces. Accredited by the Infocomm Media Development Authority’s [email protected] Digital programme, the company is combining advanced technologies like artificial intelligence (AI), machine learning (ML), distributed systems and deep business expertise to create the building blocks of sustainable compliance management.
Tookitaki deployed its Anti-Money Laundering Suite (AMLS) software with United Overseas Bank, a leading bank in Asia, and in global banks like Societe Generale.
Today, the company has offices in Singapore, India and the US.