London, 1st August 2019. FNA today announces closure of a $5.5m Series A investment round led by IQ Capital, with participation from GETTYLAB. The funds will be used to further develop the FNA platform and solutions to help financial regulators and institutions operationalise advanced data analytics, identify fault lines in the financial system and prepare better for financial crisis and cyber threats.
Founded in 2013, FNA is a London-based RegTech and SupTech (Supervisory Technology) company that uses its network analytics, AI and machine learning platform to enable financial institutions to map and monitor complex financial systems, and to simulate operational and financial risks. FNA works with leading global regulators to better manage systemic risk, exchanges to understand risk concentrations and simulate operational risks, and payments platforms and banks to optimise liquidity and manage financial crime risks.
Due to continued client growth, the company plans to build on its global footprint, particularly in the US and Asia Pacific, and expand beyond its existing client base of central banks, regulators and FMIs (Financial Market Infrastructures). FNA sees rapidly increasing demand in sectors such as banking and national intelligence. Beyond team expansion, this investment will allow FNA to continue to invest in its core technology and enhance its already deep academic partnerships.
“FNA set out to make the global financial system safer and more efficient through better, data driven, understanding of the interconnectedness of market participants. This investment is a testament to the work we’ve done with our central banking, regulatory and FMI clients,” said Dr Kimmo Soramäki, Founder and CEO, FNA. “This investment comes at a critical time for FNA as the market searches for new solutions to counter new threats to the financial system.”
“FNA’s offering is truly unique and their pioneering work in Network Analytics has produced a platform that has the potential to revolutionise the way risks are managed,” said Kerry Baldwin, Managing Partner, IQ Capital. “IQ Capital felt it important to facilitate the continued growth of FNA and to be involved with such groundbreaking technology.”