Fincom, a RegTech company specialising in anti-money laundering (AML) compliance, has completed its Series B funding round, marking a significant step in its international expansion plans.
The round was led by Nasdaq Ventures, with additional participation from Macquarie Group, G1 Ventures, and existing investors AnD Ventures and ff Venture Capital. The size of the investment was not disclosed.
Fincom provides advanced solutions for sanctions screening and entity resolution, with a focus on helping financial institutions manage growing regulatory demands. Its platform employs proprietary computational linguistics, distance-based algorithms, and advanced phonetics, enabling institutions to match names and entities across languages and data formats. This multilingual, structure-agnostic approach has driven over 80% operational cost savings for many of its clients.
The newly raised capital will fuel Fincom’s global expansion efforts, particularly in the U.S. and North American markets, where it has already expanded its team earlier this year. The company will also use the funding to introduce new services such as screening for politically exposed persons (PEPs), adverse media monitoring, and verification of payee (VOP) tools.
In a key strategic move, Fincom has entered a global partnership with Nasdaq Verafin, Nasdaq’s financial crime management arm, which serves more than 2,600 financial institutions. The collaboration aims to integrate Fincom’s screening technologies with Nasdaq Verafin’s broader AML solutions, enhancing customer engagement, compliance outcomes and cost efficiency for banks worldwide.
Nasdaq Ventures senior vice president Gary Offner said, “Fincom brings a wholly unique and innovative approach to sanctions screening that delivers faster, more accurate results when compared to legacy approaches, simplifying the increasingly complex world of AML compliance and enabling improved regulatory adherence.
“We are pleased to welcome Fincom to the Nasdaq Ventures portfolio. With the launch of our new partnership between Nasdaq Verafin and Fincom, we have an opportunity to build upon the natural synergies between our two platforms, leveraging state-of-the-art technologies to help our clients better identify and address instances of potential financial crime.”
Fincom CEO Gideon Drori said, “This investment is a testament to the hard work and achievements of our team, our customers’ confidence in our solutions, and the trust our investors have in our vision. We are excited to take the next step in enhancing the AML compliance space, making a substantial positive impact and delivering significant value to our current and future customers.”
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