Macquarie has invested in fraud detection company Quantexa, which uses artificial intelligence to help insurers and other financial groups prevent losses.

Quantexa says the injection follows a $20 million fundraising last July, supported by HSBC, Albion Capital and Dawn Ventures, and will help accelerate the analytics technology’s growth.

The UK company, which also has offices in New York, Brussels and Sydney, connects internal and external data to identify high-risk customers and prevent fraud losses.

Quantexa says in the case of insurance, it can look at claim, policy and supplier risk and help companies understand the “sometimes hidden” relationships between customers, suppliers and other entities.

The sum Macquarie invested was not disclosed.