rewrite this title Hawk Raises $56 Million in Series C Funding to Help Banks Fight Financial Crime – Finovate

AI-powered anti-money laundering (AML) company Hawk has raised $56 million in Series C funding.

The investment will fuel product innovation for the Munich, Germany-based fintech, as well as power the company’s expansion plans.

Hawk made its Finovate debut at FinovateSpring 2022 in San Francisco. The company was founded in 2018.

Hawk , a company offering AI-powered anti-money laundering (AML), screening, and fraud prevention solutions, has secured $56 million in Series C funding. The fintech, which made its Finovate debut at FinovateSpring 2022, will use the capital to help Tier 1 banks leverage AI to fight financial crime. The investment adds to the more than $134 million the company has already raised.

“Every financial institution that wants to reduce compliance workloads and increase the accuracy of risk detection should be using AI to achieve those goals,” Hawk CEO Tobias Schweiger said. “The results are compelling—we’ve been able to increase alert accuracy to almost 90% in some cases, while significantly cutting false positives. We’re also uncovering twice as many previously undetected cases of ‘novel’ criminal activity.”

Hawk’s funding round was led by One Peak, which joined existing investors Macquarie Capital, Rabobank, BlackFin Capital Partners, Sands Capital, DN Capital, Picus, and Coalition.

Hawk’s technology empowers banks to move beyond traditional, rules-based anti-money laundering and fraud fighting methods that often produce a sizable number of false positives that require human review and intervention. This drives up the cost of fighting financial crime. Further, fraudsters are increasingly adept at circumventing and subverting rules-based AML and fraud detection strategies. To address this, Hawk puts AI-powered technology to work increasing the fraud detection accuracy to find more crime while keeping false positives low.

“AI is in our DNA at Hawk,” Schweiger said. “Our mission is to provide financial institutions with the technology, the expertise and the support that they need to realize the transformative impact that machine learning and generative AI can have across their anti-financial crime operations.”

With more than 80 customers around the world, Hawk boasts partners ranging from large Tier 1 banks to mid-market financial institutions and fintechs. Hawk’s latest investment will help bring continued product innovation to these firms, as well as support the company’s expansion plans.

Founded in 2018 and headquartered in Munich, Germany, Hawk made its Finovate debut at FinovateSpring 2022 in San Francisco. At the conference, the company demonstrated its AI Surveillance Suite, which uses a combination of AI and traditional rules to identify anomalous behavior in real-time.

Hawk began this year with the launch of its Anti-Money Laundering AI Overlay, which enables banks to reduce false positives and detect novel crime without having to swap out the current AML systems. The solution, according to Hawk Chief Product Officer Wolfgang Berner, is “delivering prediction accuracy in excess of 85% (and) reducing false positives to less than 15%.” Berner underscored that the overlay achieved all of this via AI optimization “rather than a total system overhaul.”

In February, the company appointed Ben Pannier as Chief Technology Officer. Pannier comes to Hawk having held leadership positions at firms including Tide, Zalando, and PayU. That same month, Hawk was named to the Chartis 2025 Financial Crime and Compliance 50 for its real-time transaction monitoring technology.

Photo by Matthias Schröder on Unsplash

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