Castellum.AI, a FinTech company specialising in financial crime compliance through integrated AI agents and in-house risk data, has raised $8.5m in an oversubscribed Series A round.
The round was led by Curql, backed by over 130 credit unions including Navy Federal, with participation from BTech Consortium, supported by banks including Customers Bank, and Framework Venture Partners, backed by Canadian institutions including RBC.
Existing investors Spider Capital, Remarkable Ventures and Cameron Ventures also joined the round.
Castellum.AI is focused on transforming AML and KYC compliance through its AI-powered platform that combines in-house sanctions, PEPs, adverse media data, and AI screening capabilities in a single system. The firm is trusted by sponsor banks, community banks and financial services firms seeking to reduce compliance bottlenecks.
The funding will help Castellum.AI accelerate its integration with financial institutions, enabling compliance teams to access its explainable and secure AI tools to reduce false positives and speed up compliance reviews. The platform has been shown to cut AML/KYC false positives by 94% and reduce review times by 83%, it said.
The company shared that its AI agents have passed a CAMS practice exam on the first attempt. Castellum.AI is also engaging with ACAMS to have its AI agent take the CAMS certification exam officially.
Castellum.AI CEO and co-founder Peter Piatetsky said, “Compliance teams are drowning in false positives while financial crime slips through the cracks. We’ve eliminated the tradeoff of choosing accuracy and risk mitigation. You no longer have to delay transactions or onboarding to identify true positives. Our explainable AI powers Level 1 and Level 2 alert adjudications and supports Level 3 investigations, all with detailed audit trails.”
Framework Venture Partners partner Ajay Gopal said, “One of the biggest pain points for our financial institution backers is the switching cost of changing providers. Castellum.AI’s ability to layer AI agents on top of existing tools – working with, not against a client’s tech stack, gave us the confidence in their ability to rapidly support clients.”
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