Data intelligence firm Mimiro has successfully secured £23 million in funding, highlighting its potential to revolutionise the financial crime sector.
The London-based company harnesses advanced machine-learning to analyse and mitigate risks associated with financial crime. By employing algorithms that continuously improve, Mimiro evaluates an entity’s risk profile in real-time through the analysis of vast amounts of data. This cutting-edge approach allows companies to make faster and more informed risk decisions.
Introduction
Data intelligence firm Mimiro has successfully secured £23 million in funding, highlighting its potential to revolutionise the financial crime sector. The London-based company harnesses advanced machine-learning to analyse and mitigate risks associated with financial crime.
By employing algorithms that continuously improve, Mimiro evaluates an entity’s risk profile in real-time through the analysis of vast amounts of data. This cutting-edge approach allows companies to make faster and more informed risk decisions.
Significant Growth and Expansion
Mimiro has experienced remarkable growth, with a 300 per cent revenue increase in the past year alone. The company’s expansion efforts in the US have been particularly notable, having signed its 100th customer recently.
With a diverse client base comprising over 350 organisations across 45 countries, Mimiro has established a strong global presence. The firm currently employs 160 individuals, working from offices in New York, London, Singapore, and Cluj.
Investment and Leadership
Leading the Series B funding round was Index Ventures, a venture capital firm based in London and San Francisco. Existing investor Balderton Capital also participated in this round of investment.
Jan Hammer, a partner at Index Ventures, has joined Mimiro’s board following the investment. He expressed confidence in Mimiro’s innovative approach to combatting financial crime and its potential to redefine risk assessment on a global scale.
Innovative Approach to Combating Financial Crime
Mimiro’s platform stands out due to its self-improving algorithms that process millions of data points daily. This enables the real-time creation of comprehensive risk profiles for individuals and organisations.
The platform’s ability to integrate both structured and unstructured data sources is particularly striking. This comprehensive analysis equips companies with the tools they need to identify and manage risks more effectively.
Founder and CEO Charles Delingpole attributes Mimiro’s existence to the growing issues of trust arising from globalisation. He emphasises that companies often become overly cautious, thereby missing business opportunities.
Future Prospects and Vision
Mimiro’s future looks promising as the company continues to innovate and expand. The recent funding will be pivotal in accelerating their technological advancements and scaling their operations globally.
The ultimate aim for Mimiro is to provide a complete picture of risk for all entities worldwide. This ambitious vision is supported by their consistent traction with leading global banks and a wide range of other customers.
2023 is expected to be a critical year for Mimiro, with significant developments anticipated. Continued growth and broader market integration will be key focus areas for the company moving forward.
Conclusion
Mimiro’s recent funding underscores its potential to transform financial crime risk assessment. With continuous growth and innovation, the company is well-positioned to shape the future of the industry.
The integration of advanced machine-learning and real-time risk analysis positions Mimiro as a leader in its field. This investment will bolster their efforts to provide comprehensive risk solutions worldwide.
Mimiro’s recent funding underscores its potential to transform financial crime risk assessment. With continuous growth and innovation, the company is well-positioned to shape the future of the industry.
The integration of advanced machine-learning and real-time risk analysis positions Mimiro as a leader in its field. This investment will bolster their efforts to provide comprehensive risk solutions worldwide.