London-based startup Quantexa, known for its AI-driven enterprise platform aimed at combating money laundering and fraud, has secured $175 million in Series F funding. This investment pushes the company’s valuation to $2.6 billion, a significant leap from its previous $1.8 billion valuation in 2023. The funding round was led by Teachers’ Venture Growth (TVG), a division of the Ontario Teachers’ Pension Plan in Canada, with continued support from existing investors, including British Patient Capital. To date, Quantexa has raised nearly $550 million, according to PitchBook.
The company, founded nine years ago, has built a solid reputation with major clients such as Prudential, Vodafone, HSBC, ABN-AMRO, Accenture, and even the U.K. government. Despite providing only a vague user count of “thousands” on its platform, Quantexa has shown strong growth, with license revenue increasing by 40% over the past year. It now operates 16 offices worldwide, employing approximately 800 people.
This funding comes at a pivotal time when businesses and governments are heavily investing in AI to enhance efficiency, reduce costs, and take on new challenges. However, many organizations face a significant obstacle: vast amounts of legacy, unstructured data that must be organized before AI models can effectively utilize it. Quantexa’s technology, originally designed to analyze unstructured data for anti-money laundering (AML) purposes, has proven valuable in broader AI data curation efforts. The increasing demand for AI solutions has made this a growing focus for the company.
“To make AI technology work, you must get the data right. You must be able to trust and curate the data. And that’s what we do,” said Quantexa’s founder and CEO, Vishal Marria.
While Quantexa remains committed to its AML and fraud detection business, it is simultaneously expanding its role in AI-driven data solutions. A key step in this direction is the acceleration of a partnership with Microsoft, first announced in November. Quantexa is developing an AI-powered workload for Microsoft’s Fabric data analytics platform and creating an AML solution for U.S. mid-market banks, which will be distributed via the Azure Marketplace.
The company is also enhancing its collaboration with Databricks. Following a partnership established in June 2024, Quantexa is leveraging its technology to organize vast data records for generative AI applications. Additionally, the startup is expanding its footprint in the public sector, with a dedicated unit helping government entities utilize structured and unstructured data for AI initiatives. Though Marria declined to comment on specific projects related to the U.K. government’s AI-focused “Plan for Change,” he acknowledged that Quantexa is involved in multiple initiatives beyond publicly disclosed partnerships, such as its anti-fraud work with the Cabinet Office.
The latest funding round underscores investor confidence in Quantexa’s potential. Avid Larizadeh Duggan, Senior Managing Director at TVG for EMEA, praised Marria’s leadership, stating, “Vish himself is quite extraordinary. He is a founder with a clear vision and an ability to attract top talent. Selling into regulated industries is challenging, but he possesses both the technical expertise and an in-depth understanding of customer needs. In a rapidly shifting industry, these qualities are more critical than ever.”
As AI adoption continues to accelerate, Quantexa is positioning itself at the forefront, leveraging its expertise in data intelligence to drive innovation across multiple sectors.