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kindrik partners advises blackbird ventures on series B investment into first AML

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We’re pleased to have advised Blackbird Ventures on its recent investment into First AML, an Auckland-based digital ID authentication and anti-money laundering startup. First AML raised a total of $30 million in its Series B, with the round led by Blackbird Ventures, with other investors including US investor Headline, Bedrock Capital, Icehouse Ventures, and Pushpay’s Eliot Crowther.

First AML is an end-to-end due diligence platform that makes it easier to authenticate customers. The platform focuses on streamlining due diligence for complex transactions where several organizations and people may be involved and has clients in the professional services, legal, and real estate sector.

First AML was founded in 2017 by Milan Cooper, Bion Vehdin and Chris Caigou. Cooper and Caigou were former corporate bankers who saw the pain of AML onboarding and developed the platform as a response to the issue. The company expanded to Australia earlier this year and intends to use the funds to expand into Europe, as well as looking at Singapore and the United States. First AML has said that it also plans to increase its headcount from 90 to 180.

Partner Julie Fowler says of the deal, “It was great helping Blackbird with their investment into First AML. At Kindrik we’ve felt the pain of AML regulations ourselves and the solution that First AML offers makes it easier to meet our compliance requirements. We look forward to seeing how First AML continue to grow and are thrilled at Blackbird’s continued commitment to the New Zealand startup ecosystem.”

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