WestBridge Capital has made an investment into TSS Consultancy at a valuation of Rs 900 crore. The funds raised will be used for research and development, particularly Artificial Intelligence (AI), and to significantly scale its SaaS offerings, including the launch of new products in niche areas of financial crime.
Sagar Tanna, founder and CEO, TSS Consultancy, said, “We believe protecting our financial systems and complying with the law of the land is crucial. Our mission is to help every financial institution and empower financial soldiers to fight financial crime with cutting-edge technology and data intelligence with reasonable investments in money laundering, KYC, terrorist financing and insider trading.”
Trackwizz platform, under its AML solution, provides relief to both small and large institutions by helping those prevent or report money-laundering activities by using a risk-based approach.
Deepak Ramineedi, Partner, WestBridge Capital, stated, “We are excited to partner with Trackwizz as they expand their market leadership by enhancing their suite of robust and innovative products in a fast-growing compliance market, a top-of-mind space for both financial institutions and governments, globally.”