Practica Capital has invested in Amlyze: a modern innovation in money laundering prevention

2023 - 05 - 22

Anti-money laundering startup Amlyze rises to the top, raising 1 million EUR investment and entering a new stage of geographical and team growth. This important news undoubtedly brings the Lithuanian technology industry and innovations to the international arena.

COBALT advised the Lithuanian venture capital fund management company Practica Capital which became the main investor at a very early stage (“pre-seed”). This successful investment was supplemented by the financial support of the Baltic start-up accelerator Firstpick. Since last year, this accelerator has been partnering with Amlyze and driving its growth.

The investment is great news not only for Amlyze, but also for Lithuania as a technological innovation centre. It will allow Amlyze to develop its operations in different countries and strengthen the team in order to ensure sustainable growth and a greater impact on the security of the financial sector.

Practica Capital’s investment is an important step towards creating the next generation in money laundering prevention. Amlyze technology features advanced techniques using artificial intelligence (AI) algorithms and data analytics to detect and stop money laundering activities.

Clearly, money laundering and financial crime are a constant source of concern. Therefore, the founders and team of Amlyze have an ambitious goal to consolidate their position as leaders in this field. The investment from Practica Capital and the Firstpick accelerator only confirms the shared belief in Amlyze and its potential.

Technological advancements and clear vision of this innovation lead to the expectation that in the future this company will become an important player in the international financial technology arena and help create a safer financial sector.

COBALT partner Akvilė Bosaitė advised the client throughout the transaction on structural issues, prepared transaction documents, represented Practica Capital in negotiations, and advised on other transaction-related issues.

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