London-based supervisory technology (‘SupTech’) start-up FNA has closed a $5.5 million Series A investment round led by IQ Capital, with participation from GETTYLAB.
Founded in 2013, FNA offers deep technology analytics company via a platform that uses network analytics, AI and machine learning platform to help financial institutions to map and monitor complex financial systems, and to simulate operational and financial risks.
The firm also works with global regulators to better manage systemic risk, with exchanges to understand risk concentrations and simulate operational risks, and with payments platforms and banks to optimise liquidity and manage financial crime risks.
The funds will be used to further develop the FNA platform and solutions to help financial regulators and institutions operationalise advanced data analytics, identify fault lines in the financial system and prepare better for financial crisis and cyber threats.
The company also plans to expand globally, building on its existing footprint in the US and Asia Pacific to reach beyond its existing client base of central banks, regulators and financial market infrastructures into new areas of demand such as banking and national intelligence.
“FNA set out to make the global financial system safer and more efficient through better, data driven, understanding of the interconnectedness of market participants. This investment is a testament to the work we’ve done with our central banking, regulatory and FMI clients,” says Dr Kimmo Soramäki, Founder and CEO of FNA. “This investment comes at a critical time for FNA as the market searches for new solutions to counter new threats to the financial system.”