Marlin Equity Partners has taken a majority stake in UK financial crime RegTech Napier AI. Terms were not disclosed.
Headquartered in London, and founded in 2015, Napier AI is a provider of AI-enhanced financial crime and regulation technology compliance software providing AML screening for the banking, payments and wealth & asset management industries.
Napier technology is used by more than 100 institutions - including HSBC, State Street, Mizuho and Starling - to screen, monitor and identify, criminal or suspicious activities, with the added functionality of regulatory reporting.
Last year, the company secured £45 million in backing from US-based Crestline Investors.
Now it has finalised a majority growth investment from Marlin that, the two say, will enable Napier AI to advance its market position through ongoing research and development and support its go-to-market expansion globally.
Mike Wilkinson, a managing director at Marlin, says: “The Napier AI team impressed us with their strategic and innovative product offering, and dedicated customer focus. As the regulatory landscape becomes more complex, this mission-critical compliance-first AI platform is well-positioned to deliver continued growth in the global anti-financial crime market.”
Greg Watson, CEO, Napier AI, adds: “In an era of ever-evolving financial crime threats, having a modern solution leveraging AI and automation is paramount to maintaining regulatory compliance and protecting the financial services industry from bad actors. We’re delighted to have found the right partner at such a pivotal moment in our journey to help us continue our momentum and grow the Napier AI brand globally.”