Quantexa doubles revenue during fiscal year 2020

Data and analytics software company Quantexa doubled its revenues during fiscal year 2020, with 67% coming from new client wins.

The RegTech company also witnessed more than 440% growth in vertical industries, including government.

During the course of the year, the RegTech company added thousands of users to its community and its CDI platform supports multiple applications with established customers, including HSBC,  Standard Chartered Bank and Danske Bank.

The company also claims sales for its anti-money laundering solution increase by more than 80% and over 280% growth outside of its core financial crime business.

Its technology is used by seven of the top ten banks in the UK and Australia, as well as others across Europe, North America and Asia. Its platform is used in over 70 countries.

The platform enables clients to manage and connect internal and external data sources into an accurate single view. This is then applied across use cases across the customer lifecycle, such as prospecting, continuous KYC, risk management, financial crime and fraud detection, as well as investigations.

Quantexa CEO Vishal Marria 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 organisations beyond who seek to utilise context in making their data meaningful so they can more accurately and efficiently make trusted operational decisions.”

Quantexa recently opened APAC regional offices in Melbourne and Singapore.

The RegTech secured a $65m Series C funding round in July 2020, with commitments coming from Evolution Equity Partners, British Patient Capital and ABN AMRO.

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