Innovation, Startups and Venture Capital in Iceland

Lucinity secures a $17M Series B funding round led by Keen Venture Partners

This week, Lucinity announced the closing of a $17 million Series B investment round, led by Keen Venture Partners. Other investors taking part in this round include  Venturing, Experian, and other existing investors like Crowberry Capital, Karma Ventures, and byFounders. 

Lucinity is a Reykjavík-based anti-money laundering (AML) software developer that operates globally. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company’s ‘Human AI’ approach, a toolset that combines next-generation AI with human insights and expertise. Lucinity serves a wide range of customers, from Tier-1 banks to FinTechs.

By leveraging AI, Lucinity’s AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. Professionals can experience Lucinity’s AML compliance solution, including case management and transaction monitoring, through a free demo environment on https://www.lucinity.com/signup.

Keen Venture Partners is a radically human venture capital firm based in Amsterdam and London. It backs many teams and fast-growing startups across Europe at the Series A and Series B stage. Keen Venture Partners aims to begin relationships by investing time first, money later by sharing its network, experience and capabilities well before any investment possibility arises.

Guðmundur Kristjánsson, the founder and CEO of Lucinity, had this to say about the recent round of funding.It’s exciting to see Lucinity’s groundbreaking change ripple through the compliance and risk spaces. Our Human AI is transforming our clients’ productivity, and our partnerships are creating incredible productivity innovations for customers to leverage. This successful funding round will help fuel our rapid growth as we expand our customer base, partner network, global team of experts, and product offering.

Coverage of Lucinity’s previous funding rounds can be seen below.

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