Frank Body co-founders Bree Johnson, Steve Rowley, Jess Hatziz and Alexander Boffa. Source: supplied.
It’s been a week of big headlines and huge dollar-figures in the startup funding world.
SafetyCulture became a unicorn twice over, with founder Luke Anear predicting much more growth to come.
Elsewhere, Main Sequence plugged $12 million into new space-tech startup Quasar Satellite Technology, launched in partnership with the Office of the NSW Chief Scientist & Engineer and various Aussie industry experts, and proved it is intending not only to back startups, but build whole new ones.
But there’s been plenty of other activity you may have missed. Here’s what else has been going on.
Regtech Startup First AML Launches in Australia
First AML, an anti-money laundry regtech startup, announced on Tuesday it has launched its operations in Australia.
Founded in 2017, First AML streamlines anti-money laundering compliance through its online identity verification system that may be used by individuals anywhere in the globe through a smartphone. The company noted its end-to-end Customer Due Diligence platform is used by financial service providers, lawyers, accountants and real-estate agents, providing them complete visibility and management oversight.
“First AML is a specialized outsourced Customer Due Diligence (CDD) service provider operating in accordance with AML/CFT Act 2009. We can fulfil your AML compliance obligations on your behalf, taking the complexity and administrative burden off your hands.”
Co-founder Bion Behdin relocates to Sydney, seeking to hire 10 new staff in Australia.
Kiwi tech startup First AML has kick-started its Australian operations with about a dozen new clients signed up, a full diary of sales pitches, and one of its co-founders, Bion
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iTWire Tuesday, 04 May 2021 13:19 AML tech startup First AML secures venture capital firm clients
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First AML has launched in Australia after demand from venture capital firms. When reporting entities reach 100, 000 and AML compliance becomes mandatory for lawyers, accountants, and real estate agents across the country, the tech startup will offer regtech solutions to cater these numbers.
Anti-money laundering tech startup First AML has launched in Australia after an increased demand from the growing VC (venture capital) community to cater solutions that will help them manage compliance requirements.
The second tranche of AML (anti-money laundering) legislation is expected to hit Australia within the next two years, but First AML claims “it is already gaining traction in the market, with several of the country’s top venture capitalist firms using the platform.”
Anti-Money Laundering Startup First AML Launches Australian Operations
on May 05 2021 7:00 AM
SYDNEY (BUSINESS WIRE) #Australia Anti-money laundering tech startup First AML has launched in Australia after experiencing increased demand from the nation’s growing VC community for solutions that help them manage compliance requirements.
The second tranche of AML legislation is expected to hit Australia within the next two years, but First AML is already gaining traction in the market, with several of the country’s top venture capitalist firms using the platform. Under the current Tranche 1, in Australia there are 15,000 reporting entities. This number will exceed 100,000 under Tranche 2 when AML compliance becomes mandatory for lawyers, accountants and real estate agents. First AML is gearing up for growth in the market by offering a regtech solution for these reporting entities.