Themis Raises £3.1 Million to Combat Financial Crime
In a significant development for the digital financial crime sector, London, UK-based Themis has announced that it has successfully overfunded its latest Pre-Series A funding round, raising an impressive total of £3.1 million. This achievement follows a fruitful seed round in 2021 that brought in £1.67 million. Currently, Themis operates with a valuation of £15.4 million and anticipates a vigorous growth trajectory as governments and regulatory bodies worldwide intensify their efforts to combat Anti-Money Laundering (AML) violations. The increasing recognition among businesses of the necessity to implement thorough due diligence on clients, suppliers, and other third parties adds to this momentum. Themis has demonstrated remarkable progress, reporting a 57% increase in revenues in 2022 compared to the previous year.
Founded with the goal of addressing the complexities of financial crime, Themis launched its automated due diligence platform—Themis Search & Monitoring—in 2020.
The platform is designed to empower organizations and individuals to conduct AML screenings and continuous monitoring of all their clients, suppliers, and stakeholders from a single source. By leveraging sophisticated artificial intelligence (AI) and machine learning (ML) technologies, along with threat-based data and intelligence, Themis provides a comprehensive solution for detecting potential connections to financial crime. Their AML software facilitates critical functions such as Know Your Customer (KYC) onboarding, risk mapping, enhanced due diligence, and automated monitoring, ensuring that users do not inadvertently engage with entities or individuals linked to criminal activities.
“An estimated 2.7% of global GDP is lost every year to money laundering and associated crimes, enriching criminals and organized crime groups at the expense of people, businesses, and our planet," stated Matthew Hurn OBE, Chairman of Themis. He emphasized that the need to enhance detection and disruption capabilities against these threats is more crucial than ever. CTO Matt Deacon elaborated on the simplicity of their search engine, which can effectively reveal if clients or suppliers have criminal records or ties to illicit actions. This thorough screening process examines over 505 million data points, leaving little room for criminals to operate undetected. Furthermore, Dickon Johnstone, Founder and CEO of Themis, encouraged everyone, from businesses to individuals, to utilize their platform to ensure they are not unwittingly collaborating with unethical or dangerous entities. Themis continues to pave the way in the fight against financial crime, reinforcing its commitment to protecting its clients and society at large.
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