Leusden-based Sygno, a company specializing in AI for detecting fraud and money laundering, has received investment from TIN Capital and ROM Utrecht Region, as Vestbee was told. While the exact amount was not disclosed, TIN Capital typically invests between €1 million and €10 million.
- Founded in 2021 by Sjoerd Slot, Sygno develops machine learning models to support financial institutions in detecting fraud and money laundering.
- The company focuses on generating explainable AI models that can be integrated into existing transaction monitoring systems. By modelling normal customer behavior, the technology aims to reduce false positives and improve the identification of suspicious activity.
- Sygno’s models are automatically generated based on an institution’s data and regulatory requirements, and are designed to operate within the client’s existing infrastructure, maintaining data control and compliance.
Details of the deal
- The round was supported by TIN Capital, which recently raised €15 million for its Cyber Tech Fund V and typically invests in cybersecurity, IoT, and security tech from seed to Series C. ROM Utrecht Region also participated in the round.
- Sygno plans to use the fresh funding to further develop and enhance its explainable AI models, enabling financial institutions to detect suspicious transactions more quickly and reliably.
- The investment will also support the international scaling of the technology and strengthen the company’s market approach, while continuing to offer a transparent, fully explainable AI solution that operates on clients’ systems, maintaining full data control and compliance.
“The investment from TIN Capital and ROM Utrecht Region contributes to the further strengthening of Sygno’s technology and market approach. The support from these partners underscores the importance of reliable, ethical, and European alternatives within the AI sector," claims Sjoerd Slot, CEO of Sygno.
