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Lucinity: Raises USD17M in Series B Funding

Lucinity Raises USD17M in Series B Funding

  • Lucinity, a Reykjavik, Iceland-based anti-money laundering (AML) software developer, closed a $17m Series B funding round
  • The round was led by Keen Venture Partners with participation from Experian and existing investors, Crowberry Capital, Karma Ventures, and byFounders
  • The company intends to use the funds to accelerate growth and geographic coverage for its Human AI technology
  • The company provides anti-money laundering (AML) software which leverages a ‘Human AI’ approach, a toolset that combines next-generation AI with human insights and expertise
  • By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time

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