# Elucidate

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elucidate

- Industry: Software
- Headquarters: Berlin, Germany
- Website: www.elucidate.co
- Total disclosed funding: $14M
- Latest round: Seed (May 12, 2022)
- Investors on record: 8

## About

Based in Germany, Elucidate GmbH develops sophisticated data-driven solutions that focus on enhancing risk management and compliance for financial institutions, particularly in combating financial crime.Founded in 2018 in Berlin, Germany, Elucidate GmbH specializes in providing technology solutions to improve compliance and risk management in finance. The company has successfully secured a total of 6 deals since inception, with its most recent funding round—Seed—culminating in USD 8.000 mn raised on 12 May 2022, led by AV8 Ventures. Co-founders Filipe Garcia, Moeyyad Qureshi, and Shane Riedel have significant experience in the industry, while Delia O'Connor-Highfield serves as the current CEO. The total amount raised by Elucidate amounts to USD 8.000 mn, with a current valuation of USD 44.033 mn.Elucidate is a specialized provider of data-driven solutions designed to enhance risk management and compliance in the financial sector, particularly in the fight against financial crime. The company's core offering is its Risk Decision Platform, which utilizes a no-code Risk Module Builder to streamline operations and facilitate compliance with regulatory standards. This platform aggregates over 1,200 data points from more than 17 diverse data sources, enabling financial institutions to build customized risk workflows tailored to their specific needs. Elucidate serves a broad client base that includes banks and financial services firms across multiple geographical markets, with particular emphasis on regions heavily regulated for financial crime, such as North America, Europe, and parts of Asia. By integrating seamlessly with existing tools and systems, Elucidate empowers its users to make informed risk decisions quickly and effectively.Elucidate's revenue model is primarily based on subscriptions for its Risk Decision Platform, providing clients with access to its comprehensive suite of risk management tools and analytics. Clients typically engage through structured subscription agreements, which may include tiered pricing based on the scale and specific requirements of the institution. The firm's flagship product, the Risk Module Builder, is central to its service offering, allowing financial organizations to customize their approaches to risk assessment and compliance. Transactions between Elucidate and its clients are facilitated through direct partnerships, enabling institutions to implement the platform efficiently while ensuring continuous access to updated data and features. This transactional structure underscores the value provided to clients by enhancing their operational capabilities and regulatory adherence in an increasingly complex financial landscape.In May 2022, Elucidate GmbH raised USD 8.000 mn to strengthen its position as a financial crime risk management platform, with plans to enhance its revenue and operations, particularly in Europe and the US. The funding will support the expansion of its data science teams and the growth of its recently launched financial crime risk pricing product. The company is also targeting new markets for further geographic expansion, although specific regions have yet to be disclosed.

## Funding rounds

- Seed, May 12, 2022, $8M — Frontline, SixThirty, Apex Ventures, Big Start Ventures, Elevator Ventures, AV8 Ventures
- Seed, Oct 29, 2020, $2.9M — Frontline, Apex Ventures, Big Start Ventures, Seed X Liechtenstein
- Seed, Jun 22, 2020, $2.8M — SixThirty, 11.2 Capital, Apex Ventures, Big Start Ventures, Seed X Liechtenstein

## Investors

- SixThirty (https://capitalatlas.ai/funds/sixthirty) — Seed
- 11.2 Capital (https://capitalatlas.ai/funds/11-2-capital) — Seed
- Apex Ventures (https://capitalatlas.ai/funds/apex-ventures) — Seed
- Big Start Ventures — Seed
- Seed X Liechtenstein (https://capitalatlas.ai/funds/seed-x-liechtenstein) — Seed
- Frontline (https://capitalatlas.ai/funds/frontline) — Seed
- Elevator Ventures (https://capitalatlas.ai/funds/elevator-ventures) — Seed
- AV8 Ventures (https://capitalatlas.ai/funds/av8-ventures) — Seed