Themis Acquires Pasabi to Boost AI Fraud Detection Capabilities
Themis, a certified B-Corp, has completed a successful acquisition of Pasabi, a leading AI fraud monitoring company based in Edinburgh. The integration has been seamless, with both companies reporting a strong cultural fit. Pasabi, founded in 2018, brings its advanced AI technology and fraud prevention expertise into Themis' ecosystem.
Themis' CEO, Dickon Johnstone, expressed optimism about the acquisition, stating that it will make it harder for criminals to hide and easier for businesses to protect themselves from financial crime. Themis has recently launched innovative products such as a KYC Customer Risk Calculator and Themis AI Investigator, and the acquisition is expected to accelerate its product roadmap by several years.
Pasabi's co-founder and CEO, Chris Downie, echoed these sentiments, expressing excitement about joining Themis due to their cultural alignment and complementary platforms. The acquisition was supported by Quadri Ventures, a global venture capital firm investing in enterprise software companies. Pasabi's Fraud Prevention Platform is now integrated into Themis' ecosystem, expanding its fraud detection capabilities and enhancing its machine learning and behavioral analytics capabilities.
The acquisition of Pasabi by Themis is set to strengthen both companies' positions in the fight against financial crime. With the integration of Pasabi's advanced AI technology and expertise, Themis will be better equipped to protect businesses and make it harder for criminals to operate.
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