FinTech Alliance company Acin has raised $24mn in Series B funding.
In Brief:
Acin provides operational risk solutions for financial services companies.
The funding was from a strategic consortium including JP Morgan, Citi, BNP Paribas, Barclays and Lloyds Banking Group.
Existing investors joined the round too, including Norton Capital, Talis Capital and Fitch Ventures.
What does this mean?
Acin aims to enable non-financial risk content to be transformed into data and shared collaboratively – it helps companies to assess risk by bringing information together and benchmarking. The business plans to use the fresh funds to develop new projects and will so do in collaboration with the banks that have invested.
