Lithuanian RegTech firm Amlyze has secured USD1m in Pre-Seed funding from Practica Capital, Firstpick accelerator and venture capital fund. The Vilnius-based company will use the funds to expand its Software-as-a-Service (SaaS) business, introduce advanced functionalities to its core product offering and facilitate international expansion.

Amlyze offers a suite of anti-financial crime solutions, including anti-money laundering, financial fraud prevention and financial market supervision. Its technology solutions streamline AML/CFT and compliance processes, including real-time and retrospective transaction monitoring, customer risk assessment and AML investigation. The company's current client base is primarily located in the Baltic States and the UK.