Lucinity Raises $17 Million to Increase Compliance Productivity with Its SaaS Platform

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on July 7, 2022

Lucinity wants to Make Money Good™, and it is doing that with its platform, which helps businesses unlock behavioral insights about their customers. The end result is reduced risk and exposure, which is achieved, in part, by advanced Human AI. What is impressive about Human AI is that it combines what humans are good at and what AI is good at, providing truly insightful analyses. To learn more about Lucinity’s mission and what it plans to do with this round of funding, check out the press release below.

Lucinity today announced the closing of a $17 million Series B investment round, led by Keen Venture Partners and joined by Venturing, recent partner Experian, and major existing investors Crowberry Capital, Karma Ventures, and byFounders.

Lucinity’s mission is to Make Money Good™ through Human AI. By delivering user-centric compliance systems augmented by artificial intelligence (AI), Lucinity has helped various banks and FinTechs increase their compliance productivity by over 50%. This results in thousands of hours now spent on actually fighting financial crime instead of making sense of complex and noisy data.

Recent customers of Lucinity that join a range of banks and FinTechs include Pleo, a $4.7B FinTech used by 20,000 companies that chose Lucinity as its central hub for financial crime prevention, and Visa’s Currencycloud, a part of the world’s largest global payment platform.

Lucinity also recently announced partnerships with Experian and Seon. With Experian, Lucinity is delivering next-generation ongoing Know Your Business (KYB) and risk assessments, while its collaboration with Seon is centered around a joint anti-money laundering and fraud prevention solution.

“We quickly jumped on a plane to Iceland when we heard about Lucinity’s Series B funding round. Banks and FinTechs are stuck between a rock and a hard place where compliance is a big headache for them, and they are trying to wrap their heads around how to approach it in a truly risk-based fashion. We are extremely excited about Lucinity’s platform and its promise to address the global issue of financial crime.”

Robert Verwaayen, General Partner at Keen Venture Partners

This funding round illustrates a strong belief in Lucinity’s success and potential to provide banks and FinTechs with productive compliance tools to fight financial crime.

“It’s exciting to see Lucinity’s groundbreaking change ripple through the compliance and risk spaces. Our Human AI is transforming our clients’ productivity, and our partnerships are creating incredible productivity innovations for customers to leverage. This successful funding round will help fuel our rapid growth as we expand our customer base, partner network, global team of experts, and product offering.”

Guðmundur Kristjánsson (GK), founder and CEO of Lucinity

About Lucinity

Lucinity is an anti-money laundering (AML) software developer on a mission to Make Money Good. Lucinity aims to solve productivity and efficiency issues for financial institutions through the company’s ‘Human AI’ approach, a toolset that combines next-generation AI with human insights and expertise.

By leveraging AI, the AML software learns from every interaction and continues to improve indefinitely, providing fewer false positives and saving time. This is on top of its best-in-class interface and visualizations that put users first. Professionals can experience Lucinity’s AML compliance solution, including case management and transaction monitoring, through a free demo environment on

Lucinity operates globally, with headquarters in Reykjavík, and serves customers from Tier-1 banks to FinTechs. To learn more, visit

About Keen

Keen Venture Partners is a radically human venture capital firm based in Amsterdam and London. It backs exceptional teams and fast-growing scaleups across Europe at the Series A and Series B stage. Keen Venture Partners aims to begin relationships by investing time first, money later by sharing its network, experience and capabilities well before any investment possibility arises. For more information visit

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 20,600 people operating across 43 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at or visit our global content hub at our global news blog for the latest news and insights from the group.

The original press release can be found on Lucinity’s website.

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is the Editorial Director at Grit Daily. He is responsible for overseeing other editors and writers, day-to-day operations, and covering breaking news.

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