ComplyAdvantage Extends Series C Round To $70 Million With New Goldman Sachs Investment

ComplyAdvantage, a global data technology company transforming financial crime detection, announced a new investment by the Growth Equity team in Goldman Sachs Asset Management. The terms of the transaction were not disclosed.

The investment is an extension to the company’s oversubscribed Series C funding announced in July 2020. Goldman Sachs Asset Management joins a growing list of the company’s world-class investors including the Ontario Teachers’ Pension Plan Board, Index Ventures, and Balderton Capital.

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ComplyAdvantage will use this new investment to build on the rapid growth it has experienced to date and cement its position as a critical part of the value chain for companies managing evolving risks around anti-money laundering (AML), know your customer (KYC) processes and broader financial crime.

The company also has been establishing itself as the global partner of choice for high growth companies including the U.S. crypto exchange Gemini, the Australian payment app Beem It and OakNorth Bank, one of the most successful challenger banks in the U.K.

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In addition, the company also announced the availability of a new program called ComplyLaunch that provides free access to the company’s award-winning AML tools and education for startups, helping them to protect to the integrity of their businesses by reducing the threat of financial crime

“We’ve seen first-hand the compelling benefits that ComplyAdvantage offers across a range of portfolio companies,” said James Hayward, Managing Director in the Growth Equity team at Goldman Sachs Asset Management. “The company brings clear value to its clients and has grown at an impressive rate. We are excited to support the business as it continues to scale rapidly and help companies of all stages manage these critical risks.”

“Financial services innovation is the catalyst for massive business transformation. Companies need a hyper-scale AML and risk solution as a financial crime deterrent,” said Charles Delingpole, founder and CEO of ComplyAdvantage. “Goldman Sachs Asset Management is a great partner for ComplyAdvantage because they recognize the power of intelligent AML and risk detection not only to fortify businesses but also to help them introduce new services to market with greater confidence and integrity.”

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