First AML offers an end-to-end regulatory technology platform that automates customer due diligence and identity verification, including biometric remote verification and visual tools to map complex company ownership. Its B2B clients include financial service providers, law firms, real estate agents and accountants, providing visibility and management oversight across the customer lifecycle. Launched in 2017 in New Zealand and expanded to Australia in 2021, the company has grown to roughly 90 employees. The Series B proceeds will fund expansion into Europe, further product development, and a plan to double global headcount from 90 to 180. Leadership cites rising regulation and investigations such as the Pandora Papers, plus a nearly 20% market growth to a US$214 billion AML market, as drivers of demand. First AML emphasizes network effects as it scales internationally and leverages strong customer use (including from investor Blackbird) to inform its roadmap. First AML offers an end-to-end Customer Due Diligence platform that automates identity verification and provides visibility and management oversight of AML compliance processes. Its platform is used by financial service providers, lawyers, accountants and real-estate agents to reduce onboarding friction and compliance costs. A new platform release scheduled for later this month will add improved biometric identification for remote verification and visual tools to map ownership of complex company structures. The company says customers in Australia and the U.S. are showing increasing interest as businesses prepare for new regulatory requirements. Founded in 2017 by Milan Cooper, Bion Behdin and Chris Caigou, First AML targets a stated $184 billion global market opportunity. Existing customers such as Australian VC Blackbird report reduced AML case bottlenecks and an improved onboarding experience.

Total raised

$27M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2021