FISCAL Technologies, a provider of supplier risk intelligence solutions, has secured second-round follow-on funding from Octopus Ventures, and Calculus Capital.

FISCAL Technologies software, NXG Forensics, uses the latest AI and forensics to prevent fraud and provide a unique view of supplier risk. The platform is used by 300 organisations around the world to protect over £400 billion of annual spend. The additional capital provided by Octopus and Calculus will be focussed on building out the platform’s range of modular SaaS applications, with a particular focus on increasing regulatory risks such as sanctions and ESG monitoring.