Quantexa Grows 108% and Extends New Products & CapabilitiesMay 26th, 2021
Quantexa has announced it more than doubled revenues during fiscal year 2020, with 67% coming from new client wins. Beyond the Financial Services market, where Quantexa is a well-established leader and continues to see exponential growth, it also showed spectacular growth of over 440% in vertical industries including Government.
In the midst of a pandemic, London-based Quantexa raised $65 million in Series C funding in July 2020, with new and existing investors including Evolution Equity Partners, British Patient Capital and ABN AMRO.
Clients continue to show a strong demand for Quantexa’s ground breaking CDI platform, as the company added thousands of users to its innovative user community. Quantexa CDI now supports multiple applications with established customers, including international bank HSBC, as well as banks and insurers in the US and Canada.
Quantexa saw Anti-Money Laundering sales rise by over 80% as well as over 280% growth outside of its core Financial Crime business. Today, Quantexa is now in use at 7 of the top 10 UK and Australian banks, and 6 of the top 14 Financial Institutions in North America.
These clients use Quantexa to manage and connect internal and external data sources into an accurate single view, to then be effectively applied across use cases spanning the customer lifecycle, such as prospecting, continuous KYC, risk management, financial crime and fraud detection, as well as investigations. Quantexa’s CDI platform is also being increasingly used for a new breed of strategic contextual Master Data Management (MDM), with spectacular results.
Global expansion and strengthened board
Quantexa now serves over 70 countries, with its newest APAC regional offices now open in Melbourne, Australia, and Singapore. To support this expansion, Quantexa, which started in 2016 with just six founding colleagues, has increased its workforce by 18% in the last year to over 300 employees worldwide. In addition, its partner ecosystem continues to grow with key global alliances announced with Accenture and Deloitte.
Quantexa recently appointed HSBC Bank plc and HSBC Europe CEO Colin Bell, to its board, as well as making several key advisory appointments including tech and industry heavy weights Annabelle Bexiga, Simon Collins and Paola Bergamaschi Broyd.
Vishal, CEO of Quantexa, said “Quantexa continues its journey to become the global leader in Contextual Decision Intelligence. This has been a year of major growth with continuing support from our global clients and alliances. Perhaps most pleasing is the significant expansion into new industries and markets amid a global pandemic. We will continue to develop as the data and analytics provider of choice for enterprises in the financial sector and organizations beyond who seek to utilize context in making their data meaningful so they can more accurately and efficiently make trusted operational decisions.”
In this short video, Vishal Marria, CEO & Founder of Quantexa, reflects on the highs of 2020-2021 as we prepare for another year of exceptional growth.
Reveal hidden risks, manage the cost of compliance, and detect criminal activity faster with Quantexa’s Anti-Money Laundering solutions.