About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SIX Fintech Ventures Leads $8 Million Funding for Crypto RegTech Coinfirm

Subscribe to our newsletter

SIX Fintech Ventures, the corporate venture arm of Swiss exchange operator and data vendor SIX, has co-led an $8 million Series A funding round for Coinfirm, which operates a blockchain-based AML Platform for crypto assets designed to protect against ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions. As part of the deal, executive chairman Dr. Mircea Mihaescu takes over as CEO from incumbent Pawel Kuskowski.

Founded in 2016, Coinfirm is headquartered in London, and has offices in Warsaw and Torun, Poland, and in Tokyo. The company provides solutions to help participants remain in compliance with Financial Action Task Force (FATF) guidance on money-laundering and terrorist financing operations. Coinfirm’s risk management platform is used by governments, financial institutions, custodians, payment providers, investment funds and exchanges. The firm’s AML platform supports over 1,500 protocols, and utilizes more than 330 proprietary risk algorithms to help meet the stringent regulatory requirements for both CeFi and DeFi.

Coinfirm says it will use the funds to continue its growth trajectory and strengthen its position in the EU as well as expand its offering to the Asian and US markets. The funding will especially strengthen the firm’s enterprise and financial institution offering, to complement its offering for crypto market participants.

Along with SIX Fintech Ventures, the Series A is co-led by FiveT Fintech, followed by MiddleGame Ventures. Mission Gate and CoinShares also participated in the round. Alexander Christen, CEO of FiveT Fintech will join Pascal Bouvier, General Partner at MiddleGame Ventures, and CEO Mihaescu on Coinfirm’s board of directors. Maximilian Spelmeyer of SIX Fintech Ventures and Daniel O’Brien of Bird Capital also join Coinfirm’s board as non-director members.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best practices for compliance with EU Market Abuse Regulation

EU Market Abuse Regulation (MAR) came into force in July 2016, rescinding the previous Market Abuse Directive and replacing it with a significantly extended scope of regulatory obligations. Eight years later, and amid constant change in capital markets regulation, technology and culture, financial institutions continue to struggle to stay on the right side of the...

BLOG

EU Parliament Approves Landmark Artificial Intelligence Act

The EU Parliament has approved the Artificial Intelligence Act, marking the world’s first regulation of AI. The regulation establishes obligations for AI based on its potential risks and level of impact and is designed to ensure safety and compliance with fundamental rights, democracy, the rule of law and environmental sustainability, while boosting innovation. The act...

EVENT

ESG Data & Tech Summit London

The ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Entity Data Management Handbook – Sixth Edition

High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are...