Financial crime fighting startup ComplyAdvantge raises $50m

ComplyAdvantage chief executive and founder Charlie Delingpole. Photo: ComplyAdvantage
ComplyAdvantage chief executive and founder Charlie Delingpole. Photo: ComplyAdvantage

A startup that helps companies make sure they are not dealing with terrorists, corrupt politicians or drug dealers has raised $50m (£38.8m) to fund expansion.

London-based ComplyAdvantage said on Tuesday it had raised the new funding from the Ontario Teachers’ Pension Plan Board, one of the world’s largest pension plans. Existing venture capital investors investors Index Ventures and Balderton Capital also invested.

ComplyAdvantage helps banks and other financial institutions monitor business to ensure they are not facilitating financial crime.

The startup has built a proprietary database of people on sanctions lists,