Lucinity
Functionality
Risk Management
Description
Icelandic RegTech combining human expertise and AI to help banks detect and prevent financial crime.
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Bio
Lucinity, founded November 1, 2018, by Gudmundur Kristjansson in ReykjavÃk, Iceland, is a SaaS RegTech leader transforming financial crime compliance with its Human AI approach. Its platform integrates AI and human expertise to streamline AML for banks, fintechs, and payment providers, boasting a Growth Score of 89 (Crunchbase). With $25.1M raised, including a $17M Series A in July 2022 led by Keen Venture Partners, Lucinity serves clients like Finshark and Tier 1 banks across Europe and North America. Its Luci AI copilot and Case Manager enhance investigations, cutting review times significantly.
Year Founded
2018
Locations
Europe & North America
Key Market
Financial Services
Features
Adverse Media
AI Generated Reports
Audit Reporting
Case Management
Counterparty Check
Document Verification
Fraud Detection
Ongoing Monitoring
Payment Screening
Screening
Transaction Monitoring
Market Focus
Segmentation
- Mid-Market
- Enterprise
Target Markets
- Banks
- Financial Services
- FinTechs
Local Group
Data sources and Integrations
AML Screening through Facctum
Market Map
Strengths
- Slick platform designed to make analysing and remediating transactions quickly
- Logs everything, has an inbuilt AI co-pilot Lucy which basically does all the jobs and all you have to do is click, understand, review and let Lucy do all the admin in between.
Weaknesses
- Lacks verification capabilities to quickly run various checks on a name based on different plugins (AML, Credit, Adverse Media, Reputation etc - these would make it amazing)
Pricing
- Speak to sales but you can test the platform on a mock run for free on their site
Aventine Rating
Aventine Comment
Super slick! Love everything about this company. They are doing it right.
Raised
£19.2m
Round Details
Funding Information:
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Total Funding: $25.1M
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Funding Rounds: 3
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Jul 2022 – Series A ($17M) led by Keen Venture Partners
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Jul 2020 – Seed Round ($6.1M) from ByFounder and Karma Ventures
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Jun 2019 – Pre-Seed ($2M) from Crowberry Capital
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Investors
Executives
Gudmundur Kristjansso
Co-Founder & CEO
Theresa Bercich
Co-Founder & CPO
DanÃel Pálmason.
Chief Operations Officer
N/A