ThetaRay Raises $57M for AI-Powered Transaction Monitoring Solution
ThetaRay, a Hod Hasharon, Israel-based provider of an AI-powered transaction monitoring solution, recently announced that it has raised $57M in funding. The funding round was led by Portage, with investments by existing investors JVP, OurCrowd, and others. The company plans to utilize the funds to expedite its global growth plans. Under the leadership of CEO Peter Reynolds, ThetaRay offers a cloud-based transaction monitoring and screening solution that utilizes proprietary and patented AI technology. This technology allows for the quick and accurate monitoring of financial transactions, ensuring the safe flow of funds globally. It enables banks and FinTechs to expand their business and enter new markets, all while improving resource utilization and reducing the risk of financial crime. Notable customers of ThetaRay include Santander, Travelex, Mashreq Bank, MFS Africa, and ClearBank. The company currently maintains offices in New York, Madrid, London, Dubai, and Tel Aviv.
ThetaRay's transaction monitoring and screening solution stands at the forefront of AI-powered technology.
By harnessing the power of artificial intelligence, the company is able to provide financial institutions with an advanced and reliable platform for monitoring transactions. This enables them to effectively combat financial crime and safeguard their operations. With the growing complexity and scale of financial transactions, traditional methods of monitoring have become increasingly inadequate. ThetaRay's solution fills this gap by leveraging its proprietary AI technology to deliver accurate and efficient monitoring capabilities.
Moreover, ThetaRay's innovative solution allows financial institutions to capitalize on business opportunities and explore untapped markets. By efficiently and securely establishing transactions, the company empowers banks and FinTechs to not only expand their operations but also enter new markets with confidence. This opens up avenues for growth and enhances their competitiveness in the industry. With a portfolio of esteemed customers, ThetaRay has demonstrated the trust and value that its solution brings to the financial sector.
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