Kindrik Partners advises Silent Eight on USD40million series B financing
We’re pleased to have advised Silent Eight on its US$40 million series B financing. The investment round was led by TYH Ventures and supported by HSBC Ventures, OTB Ventures, Wavemaker Partners, SC Ventures (Standard Chartered Bank’s venture unit), amongst others.
Silent Eight leverages AI to create compliance platforms for some of the world’s leading financial institutions. As a pioneer in the field of AI enhanced economic sanctions enforcement and financial crime prevention, its platform can investigate suspicious transactions, beneficiaries, and customers in real-time and at significant scale.
Founded in Singapore and operating in multiple markets, Silent Eight has raised US$55milion to date. The latest funding will be used to expand technology functions for its customers, and to hire over 150 data scientists, developers and engineers in 2022.
Partner Lee Bagshaw says:
Financial crime prevention is increasingly the most important topic for institutions and businesses. Artificial Intelligence systems such as Silent Eight’s that can operate rapidly and at scale, reducing manpower and cost, represent the future and we’d expect the business to continue to scale rapidly. Kindrik Partners is particularly delighted to have assisted on this substantial financing led by global investors.