Synalogik raises over 3m in Series A funding

Synalogik has raised over £3m ($4

Synalogik has raised over £3m ($4.06m) inward a Series type A funding round.

The group’s Scout information aggregation and reporting political platform allows online operators - including Entain and Betway - to streamline client profiling checks for AML and affordability for improved compliance.

The funding troll was led by Bill Currie, Founder of retail, e-commerce and tech investiture fund, the William Currie Group, and former Tesco CEO Sir Terry Leahy. Investor St. Mark Blandford also increased his existing stakes in the group.

The society aims to apply the working capital raised to exfoliation its Scout result crosswise different markets, and to expedite the set in motion of additional solutions that hold been developed o'er the past twelvemonth and a half.

“The data landscape painting is exploding, organisations have unprecedented opportunities to piss thinking(a) decisions based upon the information within their eco-system or straight off useable to them,” said Synalogik CEO Gareth Mussell. “Organisations are struggling to tackle these opportunities and often rely on manual processes to conglomeration information - this is simply not scalable.

“In 2021, a tally of £32.1m was paid by 15 play businesses as a ensue of fines or regulatory settlements - more than any previous yr - and with regulations becoming progressively stringent, the burthen and be of compliance testament only uphold to step-up for gambling operators using manual processes.

“Closing this Series group A funding fill out allows us to rapidly ordered series upwardly our capabilities, growth our headcount and wreak young and exciting products to market place that will reserve us to meliorate attend to existing and new clients.”

Synalogik will also place in its people, explore and development, and plans to image the sizing of its technology squad and acquire its client reenforcement department o'er the coming months.

Leahy commented: “The threat from money laundering and hoax to public and private organisations is real significant and growing. Businesses are struggling to conform to compliance standards and need improve solutions like the Scout production from Synalogik which transforms the velocity of information aggregation and analysis of risk.”