Hawk, a provider of an AI-powered platform for combating financial crime, has closed a €52 million Series C financing round. The round is led by growth investor One Peak , joining a renowned group of investors. Other backers include Rabobank, Macquarie, BlackFin Capital Partners, Sands Capital, DN, Picus, and Coalition.
With the fresh capital, Hawk intends to accelerate its international expansion, particularly in the US, and further develop its modular platform. The company offers an AI-based solution to combat money laundering, fraud, and other forms of financial crime. Part of the company's customer base Startups are already Ecobank, VakifBank International, Worldline, Volt, Vodafone and VR Payment.
Hawk's AI increases accuracy
The startup pursues a technological approach that goes far beyond conventional, rule-based systems. Traditional solutions often generate a high number of false alarms that require manual review. Hawk combines explainable artificial intelligence with established rule sets to reduce the number of false positive alerts while improving the detection of previously undetected criminal activity.
Tobias Schweiger, CEO of Hawk, explains:
"Financial institutions that want to identify risks early on cannot ignore AI – it reduces manual review and increases accuracy. The results are very convincing: We were able to increase prediction accuracy to almost 90 percent in some cases while halving the number of false positives. We also uncover twice as many previously undetected cases of novel criminal activity compared to traditional systems."
Hawk's modular platform includes features such as AI-driven transaction monitoring, payment screening, continuous Know Your Customer (KYC) verification, and real-time fraud prevention, enabling comprehensive monitoring of financial flows.
Lead investor One Peak is also convinced. David Klein, Managing Partner at One Peak, says:
"The value Hawk creates for compliance teams around the world is truly remarkable. Financial institutions of all sizes confirm that Hawk delivers impressive results, exceptional reliability, and collaborative support. Hawk's technology enables banks to combat financial crime much more efficiently, and we are delighted to support Hawk's world-class team in the next phase of growth."
And Silent added:
"AI is part of our DNA. Our mission is to help financial institutions fully harness the potential of machine learning and generative AI in the fight against financial crime. We provide the appropriate technology, expertise, and support for this. With this fresh capital, we are further advancing our mission. Our thanks go to One Peak for their support and to our existing investors for their continued trust."
