Withers tech advises as Acin closes $24 million in Series B funding from a consortium of industry-leading banks
15 December 2022 | Applicable law: England and Wales | 1 minute
The Withers tech team in London has advised Acin, the global operational risk control data network, on its $24 million Series B funding from a consortium of industry-leading banks, comprising JP Morgan, Citi, BNP Paribas, Barclays, and Lloyds Banking Group.
The funding round was also supported by existing investors Notion Capital, Talis Capital and Fitch Ventures, the equity investment arm of Fitch Group.
Acin's platform empowers financial institutions to digitise their operational and non-financial risk analysis, using¬ ground-breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms’ operational and non-financial risk positions, accelerating their journey to become safer and more efficient.
London venture capital partner, Iain Cockburn, comments: "We are thrilled to have supported Acin on this strategic investment from such an impressive roster of leading global banks, supported by some of Europe's top venture capital funds, in what is a further sign of the quality and resilience of the UK's technology sector."
Withers tech is the technology, life sciences and venture capital focused team at international law firm Withers. The Withers tech team was led by Iain, working alongside senior associate Neil Jones, associates Jing Wei Luo, Siraj Mahmood, Ali Woodcock-West and Isaac Black, and trainee Robert McGowan Stuart.