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Refine Intelligence Raises 13 Million to Fight Money Laundering


Roy Creation-Space CEO – Linkedin

Refine Intelligence, a new Israeli fintech startup that fights against financial crime, raised $13 million in a Seed funding round led by Glilot Capital Partners and Fin Capital. At the same time, Creation-Space, a new Israeli SpaceTech startup, raised $1 million in funding.

Creation-Space was founded by CEO Roy Naor.

In 2017, Roy Naor, a native of Kibbutz Naan near Rehovot, lived in a simulation of a Mars research station as a representative of the Israel Space Agency.

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“We embark on an exciting journey backed by our new partners from the United States, aspiring to leverage our Israeli advantages to contribute significantly to the global effort for the development of sustainable space technologies, for the common goal of all humanity to tackle the climate crisis and expand the boundaries of human existence,” said Roy Naor, Ph.D., CEO of Creation-Space.

Founded in 2022, Refine Intelligence says that it brings a new paradigm to fighting financial crime: Catching the Good Guys. Their proprietary AI scans anti-money laundering alerts from transaction monitoring systems and “greenflags” customers’ legitimate activity to dramatically reduce investigation time, and can also be used to protect against check fraud, scams and money mules.

While the anti-money laundering (AML) industry is focused on detecting account anomalies, Refine Intelligence is the only crime-fighting fintech focused on “greenflagging” legitimate customer behavior through providing a clear picture of their life stories. This novel approach is set to change the game in AML, helping banks reduce handling time while focusing on truly unexplained anomalies. Founded by serial entrepreneurs in financial crime fighting and cybersecurity, Refine Intelligence will use the funding to accelerate expansion within North America, Europe and Latin America, and advance the development of its technology.

“Banks used to have a superpower: knowing their customers’ life stories so they could provide personalized financial service,” said Refine Intelligence CEO Uri Rivner. “With banking increasingly done online and a significant drop in face-to-face interactions, banks’ understanding of customer behavior is limited. Refine Intelligence restores that critical context, empowering banks to ‘catch the good guys’ – identify false alarms triggered by perfectly legitimate customer transactions, and focus their energy on actual dubious activity.”



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