FNA, a UK-based regulatory technology platform for financial institutions, has secured $5.5m in a Series A funding round led by venture capital firm IQ Capital.
IQ was joined by GETTYLAB in the fundraising.
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Powered by AI and machine learning, FNA allows financial institutions to monitor their systems as well as manage operational and financial risks.
The firm works with several regulators, exchanges, payments platforms, and banks.
IQ managing partner Kerry Baldwin said: “FNA’s offering is truly unique and their pioneering work in Network Analytics has produced a platform that has the potential to revolutionise the way risks are managed.”
Using the capital, FNA aims to further develop its platform and build on its global presence with a focus on the US and Asia Pacific.
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By GlobalDataThe firm also intends to use the money to strengthen its academic partnerships.
FNA founder and CEO Kimmo Soramäki said: “FNA set out to make the global financial system safer and more efficient through better, data driven, understanding of the interconnectedness of market participants.
“This investment is a testament to the work we’ve done with our central banking, regulatory and FMI clients.
“This investment comes at a critical time for FNA as the market searches for new solutions to counter new threats to the financial system.”
