Acin’s platform uses data analytics to offer risk management. Credit: Mika Baumeister on Unsplash.

Acin, a risk management startup for financial institutions, has raised $24m in a Series B funding round, which was joined by five leading banks.

JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group have invested in the firm.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Acin’s existing investors Notion Capital, Talis Capital and Fitch Ventures also joined the round.

The London-based firm plans to use the funds for product development in partnership with banks who joined the round and existing clients.

In addition, the proceeds will be used to allow Acin to expand into new areas across the financial services industry.

Financial institutions can use Acin’s platform to digitise their operational and non-financial risk analysis, using data analytics.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Acin has created a network, supported by a standardised library of risks and controls, that calibrates data and encourages the sharing of best practices amongst businesses.

Acin CEO and founder Paul Ford said: “Acin was conceived to make the industry safer, by enabling risk control content to be transformed into data and shared collaboratively, through anonymised benchmarking and sharing of best practice.

“This investment demonstrates that the market shares our vision of transforming risk management with data across the entire financial sector.”

JP Morgan chief controls manager Julian Liau said: “We have been working with Acin for the past three years, during which they have supported our established operational risk management and assessment practices.

“We are delighted to invest in Acin to support their network to grow through effective industry collaboration.”