Google’s early-stage AI fund, Gradient, has led a $3 million seed funding round for Arva AI, a startup focused on automating Anti-Money Laundering (AML) and Know Your Business (KYB) compliance for banks and fintech companies.
The round also saw participation from Y Combinator, Amino Capital, Olive Tree Capital, and several fintech angels. Arva AI’s platform, powered by generative AI, is designed to streamline compliance processes for financial services by automating the verification of business customers.
Arva AI’s technology transforms fragmented and unstructured data from sources such as registries, social media, websites, and documents into actionable risk assessments. The platform’s AI-driven capabilities allow financial firms to efficiently manage KYB tasks, enabling quick, automated onboarding of businesses while ensuring the highest standards of compliance.
With this funding, Arva AI plans to further develop its product and expand its market reach. Eylul Kayin, partner at Gradient, expressed enthusiasm for the investment, stating, “Arva AI’s approach to automating business verification is exactly the kind of innovation the industry needs, and we’re excited to support their growth.
Related topics:
What is Monthly Dividend Mutual Funds?
What is Banking and PSU Debt Fund?
