ThetaRay has raised $57m to develop artificial intelligence tools to combat money laundering

Israeli startup ThetaRay, which has created an artificial intelligence-based anti-money laundering platform, has raised $57m to develop its product.

Here's What We Know

Portage, JVP, OurCrowd and other unnamed investors participated in the funding round. To date, the startup has raised about $160 million.

ThetaRay uses Sonar's suite of AI tools to monitor questionable transactions. The platform automatically scans and detects illegal transactions at banks and other financial institutions.

ThetaRay plans to use the raised funds to expand its customer base and global presence. The company's future plans include a public listing.

Source: TechCrunch