Themis, a pioneer in deploying AI to combat financial crime and a certified B-Corp, today announced the acquisition of Pasabi, a leading agentic AI fraud monitoring company.
The acquisition, which recently received approval under the UK Home Office National Security and Investment Act 2021, integrates Pasabi’s advanced AI technology and proven fraud prevention expertise into Themis, expediting its product roadmap by several years. Pasabi’s Fraud Prevention platform is now embedded within the Themis ecosystem, enhancing the company’s AI-driven capabilities to tackle fraud alongside other forms of financial crime using machine learning and behavioural analytics.
Founded in 2017, Pasabi operates teams across the UK and Europe. The integration between the two organisations has already been completed seamlessly, reflecting their shared mission to reduce the global impact of financial crime and their cultural alignment. The deal was supported by Quadri Ventures, a global venture capital firm specialising in enterprise software investments.
With this acquisition, Themis significantly strengthens its AI-first capabilities, expanding its customer value proposition beyond its award-winning AML and CFT screening, investigations, and monitoring platform to now include fraud detection, social media monitoring, and transaction monitoring.
The announcement follows a series of innovative product launches by Themis, including a KYC Customer Risk Calculator tool, an end-to-end onboarding platform, and the introduction of the world’s first specialist LLM designed to tackle financial crime: The Themis AI Investigator, unveiled at ADGM in September.
Why this matters:
- By democratising due diligence and making it so easy for everyone to do both at work and at home, it becomes almost impossible for criminals to hide in the shadow economy without getting detected and reported to local law enforcement.
- Financial crime is big business. According to latest UNODC figures, over 2.7% of global GDP is lost every year to Money Laundering and other forms of financial crime.
- National security is on the line – stopping criminals and organised crime from operating unchecked protects people, businesses and the natural world from systemic harm.
- Themis aims to reduce the deliberate and criminal exploitation of people, businesses and the environment by criminals and organised crime groups.
- AI is the tipping point – applied responsibly, it allows compliance to move beyond box-ticking and into real-time, proactive detection.
“Our mission has always been clear: to reduce the global impacts of financial crime,” said Dickon Johnstone, CEO of Themis. “This acquisition turbocharges that mission. By embedding AI at the core of our platform, we’re making it harder than ever for criminals to hide, and easier than ever for businesses to protect themselves and society. We are building the future of compliance – one that works for everyone.”
Chris James, Managing Partner of Quadri Ventures, commented:
“Themis has emerged as a leader in AI-driven financial crime prevention, combining deep expertise with strong and accelerating enterprise adoption. We are proud to back this acquisition, which significantly advances their fraud monitoring and behavioural analytics capabilities, and we look forward to supporting their next stage of growth.”
Commenting on the acquisition, Chris Downie, CEO and co-founder of Pasabi, said:
“We’re thrilled to become part of Themis. Not only are we culturally aligned, with a shared devotion to combating fraud and financial crime, our platform is a perfect complement to Themis’ leading ecosystem. Advances in AI have changed the game and, if deployed well, are tipping the balance in favour of the crime fighters. Our proprietary fraud detection platform, deploying AI agents to be perpetually scanning for suspicious activity, combined with Themis’ proven leading suite of due diligence and AFC tools, will help businesses, NGOs and governments to protect themselves and their customers from criminal activity like never before.”
