Lynx, a Madrid, Spain-based provider of AI software that detects and prevents fraud and financial crimes, raised €17M in Series A funding.
The round was led by Forgepoint Capital, with participation from Banco Santander. Forgepoint Managing Director Leo Casusol will join Lynx’s Board of Directors.
The company intends to use the funds to expand its global expansion and further the development of its integrated fraud and AML platform.
Created 20 years ago by Dr. Carlos Santa Cruz, a computer scientist and artificial intelligence expert who now serves as Chief Technology Officer, and led by newly appointed CEO Dan Dica, Lynx is a provider of AI software designed to detect and prevent fraud and financial crimes. It co-designed the solution with stringent banking requirements, regulatory controls and best practices. The company developed the ‘Daily Adaptive Model’, a proprietary capability that continually learns new behaviours and retains models daily, further enhancing the accuracy of its risk scores. Lynx also applies its technological expertise in the AML space, where it optimizes the way organizations detect and manage financial crime.
With models trained and validated on the 58 billion transactions by 300 million bank customers per year that Lynx protects, the company offers fraud prevention for cards, digital banking, ecommerce, telephony, branches and ATMs. Today, Lynx is serving financial institutions across Europe, the UK, the US and Latin America, including Cielo, a credit and debit card operator in Brazil, and Banco Santander.
FinSMEs
16/11/2023