Regtech AMLYZE raises €2.35M in seed funding

Lithuanian regtech AMLYZE has raised €2.35M in seed funding from Vilnius-based lead investor Practica Capital, with participation from Lithuanian FIRSTPICK, Coinvest Capital, which invested with CEO of Dokobit Gintas Balčiūnas, CEO and Chairman of DOJUS Group Donatas Dailide, and European Advanzia Bank. A syndicate of 33 business angels NGL also participated in the deal.

Founded in Vilnius in 2019 by Gabrielius Bilkštis and Alexandre Pino, AMLYZE specializes in the development of anti-financial crime solutions for fintechs, neobanks, and crypto businesses. The startup offers modules for real-time and retrospective monitoring of financial transactions, customer risk assessment, anti-money laundering (AML) investigations, screening for PEPs (politically exposed persons), sanctions, and adverse media. The team includes Jekaterina Govina, former Head of the Financial Market Supervision Department of the Bank of Lithuania, Mindaugas Petrauskas, former Head of the Financial Intelligence Unit (FIU) of Lithuania, and Egle Kontautaite, former Head of Anti-Money Laundering Prevention Department of the Bank of Lithuania. AMLYZE has clients from the Baltic region and the UK.

The startup will use the new investment to accelerate the development of the company's new product - a cross-border information exchange platform to combat financial crime using artificial intelligence and synthetic data. The solution can be used by fintech companies, neobanks, pension funds, and regulators.

Practica Capital manages four funds with a total market value of €132M. The firm has invested over €10M from its Practica Capital III fund. It recently announced a second closing of its €80M fund.

Firstpick is a venture capital firm and accelerator founded by the former team of the Estonian accelerator StartupWiseGuys, which operated in Lithuania. The size of the fund is €20M. The initial ticket starts at €50-€200K. The partners of Firstpick are Jone Vaituleviciute, Marijus Andrijauskas, Andra Bagdonaite. 

Founded in 2022 by the ex-managing director of LitBAN Justinas Pasys, NGL organizes angel syndicates to invest in startups. It is also a network of startup board members that facilitate syndicated investments. NGL organizes business angel training and forms startup advisory boards.