Lynx, a Madrid-based firm using AI to detect and prevent fraud and financial crimes, has raised $!8 million in Seres A funding.
The round was led by Forgepoint Capital, with the participation of existing shareholder and client Banco Santander.
Created 20 years ago by Carlos Santa Cruz, a computer scientist and AI expert who now serves as CTO, Lynx applies advanced AI and machine learning to prevent digital fraud and combat money laundering by predicting and detecting behavioral patterns and delivering risk scores in real time and at enterprise scale.
Its technology is used by financial institutions including Santander and Brazil's Cielo and can help prevent fraud for cards, digital banking, e-commerce, branches and ATMs
The investment will fund Lynx’s global expansion and further the development of the company’s integrated fraud and AML platform.