Strategic funding to accelerate Tookitaki's growth and drive
innovation in financial crime prevention across Asia.
SINGAPORE, Oct. 21,
2024 /PRNewswire/ -- True Global Ventures (TGV)
Opportunity Fund, a global venture capital firm specializing in
transformative technologies, has made a strategic investment
in Tookitaki, a leader in anti-financial crime software. This
capital will fuel Tookitaki's rapid expansion and continued
innovation across Asia, as
financial institutions face mounting regulatory pressures to combat
increasingly sophisticated financial crimes.
The capital injection, which comes as Tookitaki reaches its
10-year anniversary, will support Tookitaki's mission to
deliver cutting-edge anti-financial crime solutions to financial
institutions in these regions, where compliance with anti-money
laundering (AML) and fraud prevention regulations is becoming
increasingly critical. Tookitaki has monitored over 10 billion
transactions across 100 million consumers amongst its clients. The
capital will be key to expanding Tookitaki's footprint in key
Asian markets, supporting its mission to deliver cutting-edge
financial crime solutions to banks and fintech companies in the
region.
Beatrice Lion, General
Partner of True Global Ventures, stated:
"Our investment in Tookitaki reflects our confidence
in their groundbreaking technology and unique ability to tackle
financial crime across Asia's key
markets. As regulatory standards tighten and financial crime
evolves, Tookitaki's platforms provide scalable, AI-driven
solutions for AML and fraud prevention that will help institutions
stay ahead of these challenges. We are excited to support their
journey of growth."
Abhishek Chatterjee,
Founder and CEO of Tookitaki, commented:
"We are thrilled to welcome True Global Ventures as we continue
our growth trajectory. This partnership comes at a pivotal time
for Tookitaki, allowing us to expand our reach in key Asian
markets and further enhance our FinCense and AFC Ecosystem
platforms. TGV's deep expertise in scaling technology businesses
globally will be invaluable as we continue to empower financial
institutions with the tools they need to effectively combat
financial crime. We're excited for the next phase of this
journey."
Tookitaki: Revolutionizing Financial Crime Detection and
Prevention in Asia
FinCense platform offers a robust, AI-driven
solution for AML and fraud prevention, enabling financial
institutions to identify and address financial crime with greater
accuracy and efficiency. The AFC Ecosystem, brings
together industry experts and institutions to continuously update
and refine crime detection models, offering real-time unparalleled
collective intelligence.
Both platforms employ Tookitaki's federated
learning approach, allowing institutions to leverage
insights from diverse datasets without compromising data privacy, a
critical factor in today's heavily regulated financial landscape.
This ensures financial institutions can meet compliance standards
while benefiting from cutting-edge crime detection technology that
adapts to new threats.
https://www.tookitaki.com/
About True Global Ventures:
True Global Ventures is a global venture capital firm with a
focus on technology-driven businesses, particularly in AI,
blockchain, and other disruptive industries. The TGV Opportunity
Fund invests in late-stage technology companies with the potential
to drive transformative change. With a strong track record of
supporting AI-driven ventures, TGV helps businesses deliver
meaningful impact across industries.
www.tgv4plus.com
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