Tom Glocer, the former chief executive of financial information giant Thomson Reuters, has backed a London-based start-up that aims to help financial services institutions carry out their know your customer and anti-money laundering checks more efficiently.

Compliance technology provider Arachnys has raised $3.5 million in funding from UK and US investors including Glocer and existing investor Martlet, the corporate venture arm of UK aerospace company Marshall Group, it said on Friday.