Existing investors Jerusalem Venture Partners, OurCrowd and others also joined the growth round. It’s Toronto-based Portage’s first time investing in the Hod HaSharon, Israel-based anti-money-laundering software company. (The Logic)
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Existing investors Jerusalem Venture Partners, OurCrowd and others also joined the growth round. It’s Toronto-based Portage’s first time investing in the Hod HaSharon, Israel-based anti-money-laundering software company. (The Logic)
Talking point: ThetaRay uses AI to monitor financial transactions, while quickly distinguishing legitimate transactions from fraudulent ones. The company plans to use its funding to expand internationally and grow its market share as banks and fintechs look to adopt new financial-crime-detection technology. “We know that banks and fintechs are looking for ways to grow their business while managing risk and compliance costs and that in many areas, including [anti-money laundering], legacy systems are not working,” said Devon Kirk, partner and co-head of Portage Capital Solutions, in a release.
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