Covalent Equity Partners invests in AML Analytics

AML Analytics said it has received a significant growth investment from Covalent Equity Partners, a Miami-based private equity firm focused on data-rich technology companies. Terms of the transaction were not disclosed. The company was founded in 2010 and provides independent testing and risk analytics for sanctions and AML/CFT controls.

Covalent said its capital and operational support will speed up AML Analytics' engineering roadmap, fund next-generation testing engines and expand the company's international reach. Founder and Group CEO Justin Holder will continue to lead the business with the existing management team.

FT Partners advised AML Analytics on the deal and Mills & Reeve provided legal counsel. McGuireWoods acted as legal counsel to Covalent, with Code & Co as technology and AI adviser.