Zelig is delighted to announce that it has acted as exclusive financial advisor to Acin, the global operational risk control data network, on its $24 million Series B funding round from a strategic consortium of industry-leading banks, comprised of Barclays, BNP Paribas, Citi, JP Morgan, and Lloyds Banking Group.
The Series B was also supported by existing investors Fitch Ventures, Notion Capital, and Talis Capital.
This funding round will enable further strategic product development in partnership with investing banks and existing clients. Additionally, it will enable Acin to expand and accelerate into new areas across the financial services industry.
Acin’s platform empowers financial institutions to digitise their operational and non-financial risk analysis, using ground breaking data analytic capabilities. Acin has established a network that calibrates data and facilitates the sharing of best practice between firms, underpinned by a standardised library of risks and controls. The results revolutionise the understanding and management of firms’ operational and non-financial risk positions accelerating their journey to become safer and more efficient. Minimising operational risk capital is a shared industry ambition and Acin’s solution is a key building block.
Acin has achieved global industry recognition, including Risk.net’s OpRisk Innovation of the Year 2022 (second year in a row), Best ESG Risk Data Provider 2022, FS Tech Awards Risk Management Software of the Year 2021, and was named one of the most innovative regtech companies in 2019 and 2020.