WorkFusion Raises $45 Million to Scale Agentic AI in Financial Crime Compliance

WorkFusion has secured $45 million in new funding to expand its artificial intelligence (AI)-driven approach to financial crime compliance, the company announced Tuesday (Sept. 16).

The round was led by Toronto-based growth investor Georgian, alongside Serengeti Asset Management and other backers.

The investment comes as fraud and compliance challenges accelerate for businesses. A PYMNTS Intelligence study created in collaboration with Intellicheck found that identity fraud now accounts for 42% of suspicious banking activity at FinTechs. Another PYMNTS report showed that U.S. financial institutions saw fraud losses rise 65% year over year, with average losses reaching nearly $3.8 million per institution.

WorkFusion, which pivoted in 2022 to focus on AI agents, said its systems are already deployed at 10 of the top 20 global banks. These agents automate more than one million alerts daily across sanctions screening, KYC refresh, adverse media monitoring and fraud investigations.

CEO Adam Famularo said the company’s shift is saving customers “about 40,000 hours a day of manual work” while helping banks avoid compliance backlogs that once overwhelmed teams.

Agentic AI is emerging as a focal point for compliance modernization.

Georgian Co-founder Justin LaFayette noted in the release that more than 85% of financial institutions are planning to deploy AI agents in 2025.

Yet adoption is uneven. PYMNTS reported that only 15% of CFOs are actively considering deployments, even as nearly 9 in 10 finance leaders say generative AI pilots already show measurable ROI.

That mismatch between intent and action is driving investor interest. Serengeti CIO Jody LaNasa said approaches like WorkFusion’s are “critical to strengthening our financial system defenses.”

Georgian brings its in-house AI Lab to help portfolio companies scale, providing research and applied machine learning expertise to speed commercialization. Serengeti, meanwhile, has been vocal about the need for compliance technologies that can manage mounting complexity without driving costs higher.

For investors, the bet is that agentic AI will deliver not just efficiency but also consistency and accuracy that outsourcing and manual methods struggle to achieve. With fraud risks and regulatory scrutiny on the rise, the market is reaching a point where automation is becoming a necessity rather than a choice.