Napier AI has announced the receipt of a £45 million investment.

The London-based FinCrime compliance RegTech said the investment from US-based asset manager Crestline Investors would further accelerate its growth trajectory and help it continue developing and serving financial institutions with "next-gen screening and monitoring tools powered by explainable AI".

Founded in 2015, Napier AI provides software for customers to screen, monitor and identify criminal or suspicious activities. It also includes regulatory reporting functionality.

“Financial crime compliance operations and regulatory pressure continue to be large overheads for financial institutions, so there is a need to invest in next-gen AI-enhanced solutions with the benefit of trusted technology and delivery,” said Napier AI chief executive Greg Watson.

Since 2021, Napier AI has experienced revenue growth of 30 per cent year on year – development it said has been influenced by its investment into the organisation and by bolstering its product line via dedicated R&D.

Commenting on its investment, Will Palmer, managing director at Crestline said: “We are excited to work with the Napier AI team and believe their market-leading, AI-powered technology platform is well-positioned to help financial institutions and other regulated companies excel in an environment with rapidly expanding transaction volumes and increasing regulatory requirements.”

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