First AML Limited

First AML Limited specializes in providing advanced software solutions for Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance, optimizing client onboarding and verification processes through innovative technology. Founded in 2017 in Auckland, New Zealand, First AML Limited delivers software solutions specifically tailored to meet AML and KYC compliance requirements. The company has engaged in three significant deals, with its latest funding round being Series B, where it raised NZD 30. 000 mn in November 2021, led by Blackbird and supported by other investors including Bedrock Capital and Icehouse Ventures.

The company is led by CEO Milan C. , and was founded by Bion Behdin. First AML offers a comprehensive suite of software solutions focusing on Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. Their platform integrates tools for risk assessments, corporate registry automation, and entity verification, enabling users to visualize complex corporate structures and conduct detailed checks with a high level of accuracy.

First AML caters to a diverse client base, including financial institutions and various enterprises across multiple regions, including Europe, North America, and parts of Asia-Pacific, allowing clients to collect and analyze data from over 300 corporate registries and 1,100 global PEPs and sanctions lists, ensuring real-time compliance monitoring and risk assessment. First AML generates revenue through a subscription-based model for its AML and KYC software solutions. Clients typically enter into agreements with tiered subscription plans based on their specific needs and the scale of their operations. The pricing structure reflects the level of service chosen, which may include access to advanced features such as biometric verification and automated document collection.

Partnerships with corporate clients are common, where First AML provides its platform to facilitate KYC checks and ongoing compliance needs, emphasizing a B2B approach that enhances operational efficiencies while adhering to regulatory standards. First AML Limited plans to utilize the NZD 30. 000 mn raised in its Series B funding round to expand its solution to Europe and to double its global headcount from 90 to 180 employees. The company aims to introduce new product offerings to enhance its platform capabilities and is strategically targeting growth in the European market by the end of 2022.