IdentityMind Global Closes Oversubscribed Financing Round from Strategic Investors, Venture Capital and Private Equity Firms

IdentityMind Global Closes Oversubscribed Financing Round from Strategic Investors, Venture Capital and Private Equity Firms

As we enter the first day of ACAMS Florida, we’re proud to announce the closing of our most recent round of financing. The round was led by Lakewood & Company, and will support our growth in expanding sales & international operations.

Financial services are growing and evolving at a rapid pace, with a steady transition to online services and a constant development of new applications for e-commerce, money service businesses, international transfers, trading, virtual currencies, and more. The intricacies of this system now expose financial institutions to new types of regulatory risks and increased complexity in adequately complying with regulatory guidance. In many cases, banks are forced to compensate for levels of separation by passing the burden of regulatory and identification requirements on to their customers.

“There’s been an explosion of growth in online financial transactions” said Garrett Gafke, IdentityMind Global CEO and President, “but that growth is abused by criminal organizations, and puts pressure on financial institutions and the overall ecosystem – which, in general, lacks effective methods for managing risk and compliance in the modern context. We’re providing these Institutions with the tools they need to operate legally and effectively in the new financial system.”

By extracting electronic DNA (eDNA) from the details of each transaction, our platform provides comprehensive visibility into all identities and entities involved. This visibility, combined with the proper heuristics and analysis console, gives Financial Institutions an essential framework for successful risk management and compliance.

“IdentityMind is addressing the gap between the old way of dealing with risks and regulations, and the necessary methods to meet new requirements being put forward by regulatory bodies.” Said Greg Corona, Managing Partner at Lakewood & Company. “The company combines a solid core technology with a top notch executive and development team that has proven it can address the challenges faced by merchants and financial institutions.”

This round of financing also includes several strategic partnerships, with investors adopting IdentityMind’s platform to manage their global risk and comply with regulatory guidance for anti-money laundering, terrorist financing, and fraud prevention.

The IdentityMind client base includes a diverse list of banks, money service businesses, mobile commerce, online commerce, and virtual currency businesses across North America, Asia, Europe, and Latin America.

For more information, contact us at [email protected], or stop by our booth at ACAMS Florida, where we’re exhibiting at Booth #221.


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