Themis Bolsters AI Fraud Prevention with Pasabi Acquisition
Certified B-Corp Themis has bolstered its machine learning and behavioral analytics capabilities following the acquisition of Edinburgh-based agentic AI fraud monitoring company Pasabi. The deal, supported by venture capital firm Quadri Ventures, brings Pasabi's advanced AI technology and fraud prevention expertise into Themis.
Founded in 2017, Pasabi specializes in AI-driven fraud detection, social media monitoring, and transaction analysis. The company, which operates teams across the UK and Europe, was acquired by Themis in September 2022 to strengthen its AI strategy in the trust and safety domain.
Pasabi's co-founder and CEO, Chris Downie, expressed enthusiasm about joining Themis due to their cultural alignment and complementary platforms. The acquisition integrates Pasabi's capabilities into Themis' Fraud Prevention Platform, enhancing its fraud detection, social media, and transaction monitoring services. Themis' CEO, Dickon Johnstone, believes this move 'turbocharges' their mission to reduce global impacts of financial crime.
Themis, now equipped with Pasabi's advanced AI technology, aims to provide businesses, NGOs, and governments with more effective protection against criminal activity. The combined platforms are expected to strengthen Themis' position as a leader in the fight against financial crime.
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