Paul Ford, CEO and founder of Acin, said the COVID-19 pandemic had made the need to digitize non-financial risks "more important than ever" for the financial services sector.
"We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin's approach is transformative in its ability to deliver this," he said. "This funding will enable us to accelerate our growth to meet the demand and needs of our clients." The round, which was also backed by Notion Capital, marks the first European investment for Fitch Ventures.
Shea Wallon, managing director of Fitch Ventures, said: "We have been tracking Acin and talking to the team over the last 18 months. We've been impressed by both their client engagement and the dedicated focus they bring to the questions they are answering as they build their operating system."
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