Resistant AI extends Series A to $27.6m with new funding

By Gloria Methri

Resistant AI, a RiskTech firm specialising in artificial intelligence (AI) and machine learning, has expanded its Series A funding to $27.6 million, having raised an additional $11 million investment from Notion Capital. This adds to the existing funding from investors including GV, Index Ventures, Credo Ventures, and Seedcamp.

The new investment builds on Resistant AI’s expansion of its product, team, and geographical presence to help financial institutions protect their onboarding and transaction systems from malicious attacks.

Resistant AI’s machine learning techniques protect financial services firms from growing threats, outsmart criminals’ use of AI, and adapt as their methods evolve. The company’s solutions look for anomalies in documents, transactions, and behaviors to provide a 360-degree view of each customer which can up to double the number of threats detected.

The company’s solutions are already protecting a number of banks and FinTech companies across the customer life cycle. Customers include Dun & Bradstreet, Payoneer, Habito, Planet42, and ComplyAdvantage; and Resistant AI now has over 80 team members working across offices in Prague, London, Brussels, and New York.

Martin Rehak, CEO and Founder of Resistant AI said, “With this investment from Notion Capital we are able to bring our solution to more institutions in the face of these increasingly pernicious threats. We are excited to be working with Notion Capital, particularly because of their expertise and track record in successfully growing computer security companies.”

Kamil Mieczakowski, Principal at Notion Capital said, “Security and FinTech are two of the largest areas of focus for Notion and we love how the Resistant AI proposition ties them together. Synthetic identity fraud has been named the fastest-growing financial crime in the US, with $6 billion in total losses to the banking sector in 2021 alone, and the Resistant AI product is the only comprehensive solution out there that moves as fast as the fraudsters do. We’re excited to be working with them so they can meet the growing demand for their solution.”