Lithuanian regtech AMLYZE closed $1M from Practica Capital and Firstpick
Lithuanian regtech AMLYZE has raised $1M from lead investor Lithuanian fund Practica Capital, and Lithuanian accelerator Firstpick.
AMLYZE specializes in anti-financial crime solutions for fintechs, neo-banks, and crypto businesses. It includes real-time and retrospective financial transaction monitoring, customer risk assessment, and anti-money laundering (AML) investigation.
The company currently has clients from the Baltic region and the UK. The raised investment will allow AMLYZE to scale its SaaS-business, facilitate international expansion, and introduce advanced functionalities to its core product offering.
FIRSTPICK invested in AMLYZE during its acceleration program, launched in November 2022. The investment ticket size of the accelerator is up to €100K per startup.
Vilnius-based AMLYZE was founded by Gabrielius Bilkštys and Alexandre Pinot in 2019. The team consists of the former head of the financial market supervision service at the Bank of Lithuania Jekaterina Govina, the former supervisor of the financial intelligence unit (FIU) of Lithuania Mindaugas Petrauskas, and the former head of the money laundering prevention division at the Bank of Lithuania Eglė Kontautaitė.
Vilnius-based Practica Capital was founded in 2012. The firm focuses on investments in the Baltic and Baltic-origin ventures in Europe at pre-seed, seed, and series A stages. It has supported Lithuanian startups, such as PVcase, Interactio, Montonio, Ovoko, and TransferGo. Practica Capital manages four funds with a total market value of the investments (AUM) of €80M. It has made over 50 investments.
A €20M Lithuanian early-stage venture capital fund Firstpick was formed by the Lithuanian team who earlier were part of the Estonian accelerator StartupWiseGuys. The fund had already invested in almost 50 startups, including fintech Kevin, data verification startup Ondato, booking service Watalook, and fintech Heavy Finance. The initial ticket starts at €50-200K. This year Firstpick has invested in 15 startups.
