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# MetaQuotes leads $6 million Series A in Sumsub
- URL: https://www.ai-360.online/sumsub-raises-6m-series-a-metaquotes/
- Published: 2020-09-10T11:00:00.000Z
- Updated: 2026-10-26T09:37:12.000Z
- Description: MetaQuotes said it led a $6 million Series A in Sumsub (formerly Sum&Substance) to fund global expansion of its KYC and AML platform.
- Author: AI-360
- Tags: News, #company-sumsub, 1. Enterprise AI, 2. Security, Funding, kyc, aml, BFSI, #industry-fraud-identity

MetaQuotes [said on 10 September 2020](https://www.metaquotes.com/en/company/news/5241?ref=ai-360.online) that [Sumsub](https://sumsub.com/?ref=ai-360.online), formerly Sum&Substance, had raised a $6 million Series A to accelerate global expansion of its machine-learning platform for user onboarding and KYC and AML compliance. The Cyprus-based software provider said it led the round alongside strategic and existing investors including Ilia Perekopsky, then described as a vice-president of Telegram.

MetaQuotes said it had also bought out early investor Flint Capital’s shares, and that Flint Capital achieved a 5.5x return on the exit. Proceeds would fund global expansion, hiring and faster product development, with Sumsub aiming to reach more than 500 new SME and SMB customers worldwide by the beginning of 2021 — a target stated at the time of the announcement.

Sumsub chief executive Andrew Sever emphasised the burden of multi-jurisdiction compliance for global companies in the announcement. MetaQuotes chief executive Renat Fatkhullin said brokers had long requested a compliance solution within MetaTrader, and that MetaQuotes had tried dozens of options before meeting Sumsub as potential clients hunting for a working product.

The 2020 announcement said Sumsub was founded in 2015 in London by brothers Andrew, Jacob and Peter Sever with Vyacheslav Zholudev. Client-count and document-coverage claims in that release are historic vendor and investor statements from the time of the round.

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