UK-based AI start-up Behavox is reportedly set to receive an investment of $100m from Softbank’s second Vision Fund, Sky News has reported.
Founded six years ago by Erkin Adylov, the fintech firm leverages AI technology to monitor the behaviour of employees at financial services firms.
Go deeper with GlobalData
Behavox also uses AI to help banks detect wrongdoings by employees, such as rogue trading or bribery.
In November 2017, the company attracted investments from venture capitalists Hoxton Ventures and Index Ventures, and Citi Group.
SoftBank Vision Fund II will infuse the capital following the conclusion of Vision Fund I investment which ended in September 2019, an undisclosed source told the publication.
The latest transaction is expected to be completed by next week.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSoftBank’s Vision Fund I is said to be the largest investment vehicle valued at $93bn. The fund has invested in more than 80 companies in total, including start-ups and small businesses (SMBs) like GetYourGuide, Getaround and Kabbage.
Recently, SoftBank Vision Fund invested $655m in Greensill Capital, ARM Holdings, Improbable, and OakNorth.
It has also invested in technology giants like Apple and Qualcomm.
The size of the second Vision Fund remains unknown.
