Certified B-Corp Themis has acquired Edinburgh-based agentic AI fraud monitoring company Pasabi to strengthen its AI strategy.
The deal brings Pasabi’s advanced AI technology and fraud prevention expertise into Themis, in a move which will accelerate its product roadmap by several years.
The firm’s Fraud Prevention Platform is now embedded within the Themis ecosystem, expanding the platform’s capabilities in fraud detection, social media and transaction monitoring.
Founded in 2017, Pasabi operates teams across the UK and Europe. The integration has already been completed, reflecting what both companies describe as a strong cultural fit and shared mission to reduce the global impact of financial crime.
The acquisition was supported by Quadri Ventures, a venture capital firm investing in enterprise software companies worldwide.
With the move, Themis, which uses AI to combat financial crime, will bring enhanced machine learning and behavioural analytics capabilities to market.
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It follows a wave of product innovation, including a KYC Customer Risk Calculator, an end-to-end onboarding platform and the Themis AI Investigator, the world’s first specialist large language model for financial crime, launched in Abu Dhabi this September.
“Our mission has always been clear: to reduce the global impacts of financial crime,” said Dickon Johnstone, CEO of Themis.
“This acquisition turbocharges that mission. By embedding AI at the core of our platform, we’re making it harder than ever for criminals to hide and easier than ever for businesses to protect themselves and society.
“We are building the future of compliance – one that works for everyone.”
Chris Downie, CEO and co-founder of Pasabi, added: “We’re thrilled to become part of Themis. Not only are we culturally aligned, with a shared devotion to combating fraud and financial crime, our platform is a perfect complement to Themis’ leading ecosystem.
“Advances in AI have changed the game and, if deployed well, are tipping the balance in favour of the crime fighters.
“Our proprietary fraud detection platform, deploying AI agents to be perpetually scanning for suspicious activity, combined with Themis’ proven leading suite of due diligence and AFC tools, will help businesses, NGOs and governments to protect themselves and their customers from criminal activity like never before.”
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