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December 15, 2022 | Transactions, Fundraising

Zelig advises Acin on $24m Series B from Barclays, BNP Paribas, Citi, JP Morgan, and Lloyds Banking Group

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 […]

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.
“Acin was conceived to make the industry safer, by enabling risk control content to be transformed into data and shared collaboratively, through anonymised benchmarking and sharing of best practice. This investment demonstrates that the market shares our vision of transforming risk management with data across the entire financial sector. This strategic consortium is a testament to the shared vision of banks and a strong signal that there is a shared commitment to addressing operational risk from leaders within the industry.”
Paul Ford
Founder and CEO, Acin

Investor perspectives
“Our investment in Acin, a leader in risk and control management, demonstrates our commitment through our new Fintech investment team to invest in companies that will enhance the Group’s data and technology capabilities. Working together, we will be able to use the Acin platform to benchmark our control frameworks and deliver greater data-led risk management across the Group.”
Kirsty Rutter
Fintech Investment Director, Lloyds Banking Group
“We have been working with Acin for the past three years, during which they have supported our established operational risk management and assessment practices. We are delighted to invest in Acin to support their network to grow through effective industry collaboration.”
Julian Liau
Chief Controls Manager, J.P. Morgan
“We look forward to our continued partnership with Acin, following our strategic investment in Acin’s Series B round. We are thrilled to be supporting them on the next step of their journey to standardise non-financial risks and controls across the financial services industry.”
Darren Jarvis
ICG Chief Administrative Officer, Citi
“BNP Paribas is committed to effective operational risk management and controls, and recognises the importance of developing industrial solutions in this space. Acin is an innovator in this field, and we are glad to invest in the potential of their technology, so we can remain at the forefront of change.”
Arnaud de Tregomain
COO & Head of Business Development, Global Markets, BNP Paribas
“A data driven approach to operational risk could be transformative in driving consistency across different areas of risk. Acin’s product offering enables businesses to take a more holistic and objective view of exposure relative to the market, which supports the industry in increasing safety in global financial markets.”
Ryan Hayward
Head of Strategic Investment, Europe & Asia, Barclays

About Zelig

Zelig is an independent investment banking firm focused exclusively on FinTech and related technologies. With a core team in London, New York, Sao Paulo and Mumbai, supported by a network of senior advisers around the world, we provide M&A and capital raising advice to entrepreneurs, corporates and investors globally. For more information on Zelig, please reach out to us or visit https://www.zeligfintech.com.
Gerd Weissenboeck
Managing Partner
+44 7771 640 296
gerd@zeligfintech.com

Lorcan O’Shea
Partner
+44 7740 375 670
lorcan@zeligfintech.com

Owen England
Director
+44 7507 838 760
owen@zeligfintech.com