Hummingbird RegTech, a San Francisco, CA-based provider of anti-money laundering (AML) compliance technology, raised $8.2M in Series A funding round.
The round was led by Flourish Ventures with participation from Lachy Groom and Jon Zieger, and seed investors Hombrew, Designer Fund, and TTV Capital, for a total funding to date of $11.8M.
The company intends to use the funds for the expansion into new practice areas, including transaction disputes and consumer protections in lending; continue its operational growth; and enter the European market, starting with Ireland and the U.K.
Led by Joe Robinson and Matt Van Buskirk, Hummingbird offers two main products: a case management, investigation, and reporting platform; and an API for validating and filing regulatory reports. These products drive down costs, improve accuracy, and automate financial compliance programs, while also facilitating collaboration and technological advancements:
- The modular platform works across data sources, teams, partnerships, and other technologies.
- Data organization and insights are designed for machine learning.
Since its launch in 2017, the company has helped major financial institutions with trillions in assets under management, as well as tech-savvy trailblazers such as Brex, Upgrade, and Etsy, orchestrate their compliance programs.
FinSMEs
18/07/2020