Germany Based Financial Crime Fintech Startup Elucidate Secures €2.5M In Pre-Series A Funding Round Led By Frontline Ventures

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Financial crime risk scoring platform Elucidate raised €2.5 million in a pre-Series-A funding round led by Frontline Ventures along with participation from existing investors Seed X Liechtenstein, APEX Ventures, and Big Start Ventures. Elucidate had secured a funding round in July last year brining the total funding now to over €5 million. Elucidate was founded in 2018.

Elucidate’s FinCrime Index is a regulated financial crime risk benchmark and enables financial institutions and public sector entities to quantify, predict and prevent financial crime. The technology employs predictive modelling and machine learning, and is a leap for financial crime risk from manually determined reactions to a new standard for financial crime risk analysis and scoring.

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