ComplyAdvantage said its move ‘services the growing demand for modern compliance solutions’.
Regtech start-up ComplyAdvantage has opened offices in London and New York to “strengthen its foothold in major global financial markets”.
The firm has just moved to new headquarters in London’s Covent Garden and opened a new office in Bryant Park, New York, with a third site slated for the Asia-Pacific region later this year.
The business, which uses machine learning to spot risks across the databases of financial companies, said it has more than doubled its workforce since last July, now employing more than 200 staff.
The group, founded in 2014, said it was expanding into “two top financial services markets, London and New York, to service the growing demand for modern compliance solutions”.
ComplyAdvantage said it services 450 firms across 45 countries in three continents. It adds it is currently looking for new staff at offices in the UK, the US, Singapore and Romania, in roles that range from legal counsel, business development to design engineers.
$2trn in money laundering
Around $2trn is laundered every year, with less than 1 per cent of these funds ever detected, according to estimates from the United Nations Office on Drugs and Crime.
ComplyAdvantage founder and chief executive Charlie Delingpole said: “We’re strengthening our foothold in major global financial markets as we continue to build the world’s only global AI-driven database of people and companies to power anti-money laundering and financial crime detection.”
The start-up’s cloud-based technology combs millions of “structured and unstructured” data points to spot risk, helping firms to comply with sanctions, anti-money laundering and counter financing of terrorism regulations.
In January, the start-up raised $30m in a Series B fundraising round led by San Francisco and London-based venture capital firm Index Ventures and joined by UK private equity house Balderton Capital.
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