(Bloomberg) -- A U.K. startup that uses artificial intelligence to help banks and other financial firms with anti-money laundering compliance received $8.3 million to fund its expansion in Europe and North America.

The financing for London-based ComplyAdvantage is being lead by British venture capital firm Balderton Capital. The company, which said in a statement it has 200 clients globally, said it would use the money to expand its operations, adding to its current team of about 50 employees. It will also open a sales office in New York this week.

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