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Wall Street bank BNY Mellon makes strategic investment into Quantexa
The cash closes Quantexa’s Series D round, which was led by Warburg Pincus, and first announced in July 2021.
One of the world's biggest banks, Bank of New York Mellon has made a strategic investment and closed, UK-based data analytics firm Quantexa’s $153 Series D funding round.
Quantexa says its algorithms can find hidden patterns in banking and other data to help prevent crimes ranging from money laundering, sex trafficking, child exploitation and organ trafficking.
Its series D, led by Warburg Pincus, originally closed in July. As part of the investment, Joseph Sieczkowski, CIO of Engineering and Architecture, BNY Mellon, will be joining the Quantexa board, and Eric Hirschhorn, Chief Data Officer, BNY Mellon, is joining Quantexa’s advisory board.
BNY Mellon has been stealthy using Quantexa’s AI platform for the past year.
Sieczkowski said: “After leveraging Quantexa’s technology, the synergies for BNY Mellon became obvious, and we participated in its series D round of funding. We’re excited to collaborate on a number of new data and analytics technology innovations, which will directly benefit our customers and support Quantexa’s technology as we set new standards across banking, data management, and risk and compliance together.
Vishal Marria, CEO, Quantexa, added, “We feel exceptionally fortunate to have found not only a great client in BNY Mellon expanding our footprint in North America, but also an innovative collaborator."