Quantexa, a financial technology start-up based in the United Kingdom, has raised US$153 million in a funding round headed by Warburg Pincus, as it wants to accelerate its regional expansion and develop new products in areas such as banking and insurance. The firm, whose Contextual Decision Intelligence (CDI) software aids financial firms in data management, as well as their attempts to combat fraud and financial crime, said it would consider mergers and acquisitions.
The latest Series D round was backed by existing investors such as HSBC and ABN Amro Ventures, a subsidiary of Dutch bank ABN Amro, and saw the company increase by 108 percent between 2020 and 2021.
According to a source familiar with the situation, the round values the company between US$895 million and US$905 million, approaching the US$1 billion valuation that would qualify it as a “unicorn” in the tech sector.
Some of the world’s largest banks, insurers, and government agencies, including HSBC, Standard Chartered, and Danske Bank, are among the company’s existing clients. It also collaborates with tech behemoths such as Google and Microsoft. Quantexa CEO Vishal Marria stated that demand for the company’s technology has grown “exponentially” and that the prospective market, which includes other industries, is worth more than US$114 billion.
CDI assists businesses in connecting huge internal and external databases and analyzing them on a single platform to support a variety of tasks, including better understanding their customers.
“Quantexa’s proprietary technology allows clients to generate single views of individuals and entities, which are visualized using graph network analytics and scaled using the most advanced AI technology,” said Adarsh Sarma, Managing Director and co-head of Europe at Warburg Pincus.
“The company’s tremendous success to far reflects its invaluable value proposition in a vast total available market, as well as its continuing expansion across new sectors and locations,” says the CEO.
(Simon Jessop contributed reporting, and Emelia Sithole-Matarise edited the piece.)/n
