Table of Contents
AI-driven User Onboarding for Startups
Resistant AI Secures $11M in Funding from Notion Capital
Silicon Canals reports that Prague-based company Resistant AI has recently secured $11M in funding from Notion Capital, raising its total Series A round to $27.6M. This new investment will further support Resistant AI’s expansion efforts in developing its product, team, and geographical presence. Financial institutions are increasingly looking for solutions to protect their onboarding and transaction systems from malicious attacks, creating a strong demand for Resistant AI’s services.
The Need for a New Approach
The financial industry faces a significant challenge in tackling financial crime, particularly in the face of AI-driven attacks that generate authentic fraudulent identities at scale. According to Martin Rehak, CEO and Founder of Resistant AI, the rise of fintech services has provided opportunities for customers, but it has also resulted in an increase in criminal activities exploiting these new services. Resistant AI’s unique machine learning application is designed to combat these ever-changing threats and provide enhanced protection for financial services.
State-of-the-Art Machine Learning Techniques
Founded in 2019 by Martin Rehak, Resistant AI has developed advanced machine learning techniques to safeguard financial services from manipulation and attack. Their solutions analyze documents, transactions, fraudulent identities, account takeovers, money laundering, and behaviors to provide a comprehensive view of each customer. By leveraging these capabilities, financial institutions can double the number of threats detected. Resistant AI’s solutions are already trusted by several banks and fintech companies, including Dun and Bradstreet, Payoneer, Habito, Planet42, and ComplyAdvantage.
Impressive Growth and Expansion
Resistant AI has experienced significant growth since its inception. The company now boasts over 80 team members spread across offices in Prague, London, Brussels, and New York. In the past year, Resistant AI has doubled its customer base, witnessed a 6x increase in ARR, and a 4x increase in monthly usage. This growth highlights the effectiveness and value of Resistant AI’s solutions in the market.
Partnership with Notion Capital
Notion Capital, a venture capital firm focused on high-potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets, has joined Resistant AI as an investor. Kamil Mieczakowski, Principal at Notion Capital, recognizes the importance of security and fintech and how Resistant AI’s proposition aligns with these areas of focus. Synthetic identity fraud, which is the fastest-growing financial crime in the US, presents a significant threat to the banking sector. Mieczakowski believes that Resistant AI’s product is the only comprehensive solution available that can keep up with the evolving tactics of fraudsters. Notion Capital is excited to work with Resistant AI to meet the growing demand for their solution.
Conclusion
Resistant AI’s latest funding round and partnership with Notion Capital are significant milestones for the company. As financial institutions face increasingly sophisticated attacks, Resistant AI’s AI-driven user onboarding solutions are crucial in protecting against financial crime. With their advanced machine learning techniques, Resistant AI helps institutions identify potential threats and minimize risks. The company’s impressive growth and expanding customer base demonstrate the value and effectiveness of their solutions. As the demand for enhanced security in the financial industry continues to grow, Resistant AI is well-positioned to provide the necessary protection.
Leave a Reply