ComplyAdvantage Names Nabeel Vilcassim CFO and Oliver Furniss CPO As The RegTech Innovator Prepares For Record Growth In 2022

ComplyAdvantage, a global data technology company transforming financial crime detection, today announced two new executive hires that include Nabeel Vilcassim as the company’s Chief Financial Officer (CFO) and Oliver Furniss as Chief Product Officer (CPO). Both will report directly to Vatsa Narasimha, Chief Operating Officer of ComplyAdvantage.

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In 2021 ComplyAdvantage saw record growth with ARR (annual recurring revenue) growing by ~80%, fueled by an expanded portfolio of global crypto, fintech and banking customers including Gemini, HTB and TransferMate and key strategic partnerships with world-class blockchain data and BaaS providers including Elliptic and Raisin Bank. Usage across the company’s AML (anti-money laundering) solution sets hit record levels with searches volumes doubling quarter over quarter for the company’s Customer Screening and Monitoring solution while Transaction Risk Management volumes increased by 4x.

In addition, the company’s platform facilitated more than 1 billion searches across 150 million entities that are monitored daily in 2021. For 2022, the company anticipates its growth momentum to continue to hit record levels and expects to grow the team to ~500 employees by year end. Lastly, ComplyAdvantage expanded the company’s oversubscribed Series C round with additional funding from Goldman Sachs, the leading global banking, securities and investment management firm.

“Our hard work and our values of being Kaizen, focused and results-driven have provided us with the opportunity to bring on such incredible talent with the additions of Nabeel and Oliver. But as we all know, success is never guaranteed, it is earned so now the hard work continues,” said Vatsa Narasimha, COO for ComplyAdvantage. “With great excitement and gratitude, we set our sights on scaling in 2022 led by our amazing team and made possible by our incredible employees, customers, partners and investors who believe in our vision in using intelligent data to eliminate financial crime.”

Executive Roles

As CFO, Nabeel will oversee all areas of the finance organisation including the finance function, corporate development, compliance, and investor relations. Nabeel joins ComplyAdvantage from Moelis & Company where he served as Managing Director and Head of EMEA FinTech.

Nabeel brings more than 15 years of investment banking and corporate finance experience advising global financial services firms, fintech and market infrastructure firms on M&A, financing and strategic investment transactions. Nabeel started his career at Citigroup covering the European financial services sector. He holds a Masters in Electrical & Electronic Engineering from Imperial College London.

“This is a phenomenal time to join ComplyAdvantage as the opportunities ahead of us are tremendous. With strong business fundamentals and a growing global demand for our hyperscale counterparty risk intelligence technology, we sit at the nexus between innovation, regulatory compliance and the future of compliance,” said Nabeel Vilcassim “So, I am exceptionally excited to be part of a team that will help companies to transact with the greatest amount of integrity.”

As the company’s newly appointed CPO, Oliver will oversee all aspects of the company’s solution set from ideation and optimization to market availability. In addition, Oliver will also lead efforts to expand data and enhance AML and risk intelligence gathering from the company’s proprietary knowledge graph.

Prior to joining ComplyAdvantage, Oliver was most recently CPO at Dojo, the UK's newest card payment acquirer, helping businesses to take payments face to face and online, get access to their money fast. Previously, Oliver served as Product Lead at Wise and Global VP Product at Xero. He holds a bachelor’s degree in economics and financial services from Nottingham Trent University.

“I chose to join ComplyAdvantage because of the exciting mission the company is working on,” said Oliver Furniss. “By leveraging the power of hyperscale data and machine learning, we have the opportunity to help our clients not only reduce their exposure to money laundering instances but also help accelerate growth with greater integrity. It’s a great position to be in.”

In addition to new customers, funding and executive additions, ComplyAdvantage also noted several other achievements earned during 2021 including:

● Release of several new research reports including the company’s annual State of Financial Crimes Report 2021 and the Evolving Use of Sanctions

● Announced ComplyLaunch a free AML program for fintech Startups

● Release of a new AML guide for digital banks

● Industry acknowledgements including the CB Insights 250, AIFintech100 and Chartis RiskTech 100

"This is an incredible time for the team at ComplyAdvantage as their phenomenal growth reflects the value they continue to create for their global customer base," said Jan Hammer, partner at Index Ventures. "And now with the new additions of Nabeel and Oliver, the company is poised to make 2022 another breakthrough year. Clearly the company's unique approach to counterrisk intelligence gathering is ideal for keeping pace with the most innovative of financial service providers".

Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth fintechs, ComplyAdvantage helps regulated organisations manage their risk obligations and prevent financial crime. Powered by ComplyData^TM, the company’s unique hyperscale approach to intelligence gathering helps to detect suspicious behaviour and uncover hidden risks throughout the customer lifecycle, helping financial service providers to maintain the highest level of compliance oversight and integrity.

ENDS

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 500 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world's only global, real-time database of people and companies. The company actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day.

ComplyAdvantage has four global hubs located in New York, London, Singapore and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers’, Index Ventures and Balderton Capital. Learn more at complyadvantage.com.

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Contact information

ComplyAdvantage
Tim Donovan
+1.510.593.0064
Tim.Donovan@ComplyAdvantage.com

ComplyAdvantage EMEA
Ben Goldsmith
+44.0.7788.295321
ben@goldsmithcomms.com