Thursday March 04, 2021
Bitcoin (BTC) $49,509.00   Ether (ETH) $1,569.92
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Capital Raising

Blockchain compliance and AML network Coinfirm raises $4 million

This first institutional investment round enables Coinfirm to expand its blockchain and digital asset compliance and analytics products in the U.S., build out its AML B2B Compliance-As-A-Service platform, and launch asset recovery and investigation solutions...

Published by CryptoNinjas.net
01/30/2020
Blockchain compliance and AML network Coinfirm raises $4 million

Coinfirm, a financial technology company that provides proprietary algorithms and big data analysis solutions for blockchain and cryptocurrency companies, today announced it has raised more than $4 million in an institutional funding round led by Bird Capital. The round also saw participation from experienced investors including NKB, Alfabeat, Gauss Ventures, and Blockchain Valley Ventures.

“We are deeply impressed with what Coinfirm has been able to achieve already,” said Daniel O’Brien, co-founder and Managing Partner at Bird Capital, who also joins Coinfirm’s board. “This is a prime example of a company solving real problems in B2B SaaS. The team  has capitalized on regulatory tailwinds to build strong momentum in customer acquisition, including ARR contracts, and we are excited for this to accelerate going forward.”

The funds are being used to continue building out Coinfirm’s product offerings, which provide compliance, analytics and transaction security solutions to blockchain and cryptocurrency businesses. A primary focus is Coinfirm’s core AML & Analytics Platform, which offers an easy-to-use SaaS format. Coinfirm will also be focused on its Travel Rule solution, as well as its Trudatum and Reclaim Crypto initiatives, which solve problems of critical importance to the international distribution and circulation of cryptocurrencies.

“We see a great market here with huge potential to grow. Our technology now is best-in-industry, and we plan to use these funds to build sales and expand, expand, expand internationally,” said CEO Pawel Kuskowski. “The cryptocurrency recovery and investigation market accessed via Reclaim Crypto alone is worth over $10 billion and Coinfirm is the first mover in this space, where we have already notched some successes and are working with prominent partners such as Kroll/Duff & Phelps. As we grow and expand commercially, we are helping prevent crime, money laundering and illicit flows of funds, and making the work of compliance officers easier and more effective.”

Data shows that the global RegTech sector generated an estimated USD $4.9 billion in annual revenue in 2018, employing 44,000 people globally, and is forecast to grow at a rate of 23-25% per annum between now and 2023. Nowhere is RegTech more important or needed than in the cryptocurrency market, where Coinfirm has built an advanced set of solutions.

Coinfirm

Coinfirm’s blockchain-agnostic platform is used by groups around the world, ranging from major financial institutions to cryptocurrency exchanges. Coinfirm has gained significant traction as the go-to provider for digital asset compliance and analytics, working with major players in the blockchain and RegTech industries. Existing clients and affiliates include the likes of PKO BP, the largest bank in Central and Eastern Europe; Binance; Xapo; RSK; and the Government of Gibraltar.

“Working with Confirm ensures us a comprehensive risk framework that balances user protection and user experience while complying with the FATF’s AML guidelines,” said Binance Chief Compliance Officer Samuel Lim in a story published at Forbes.com in October 2019. “They have wide blockchain coverage and proprietary algorithms that cover more than 270 risk scenarios in real-time.”

In the first quarter of 2020, Coinfirm, founded in Europe, will host events in New York and London, together with its partners like Kroll, a global corporate investigations and risk consulting firm based in New York that is a division of Duff & Phelps. The company is already engaged with U.S. investors to participate in additional growth funding later in the year as it makes its trans-Atlantic expansion.

19
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Infinigold integrates Coinfirm for blockchain analytics and AML on digital commodities
Security

Infinigold integrates Coinfirm for blockchain analytics and AML on digital commodities

07/29/2020
Crypto exchange Eterbase to use Coinfirm AML solution
Crypto Exchanges

Crypto exchange Eterbase to use Coinfirm AML solution

01/13/2020
Bitcoin derivatives exchange Overbit implements Coinfirm's AML platform
Crypto Exchanges

Bitcoin derivatives exchange Overbit implements Coinfirm’s AML platform

12/18/2019
AMLT Token Network integrates Bitcoin Cash (BCH)
Networks & Protocols

AMLT Token Network integrates Bitcoin Cash (BCH)

10/24/2019
Coinfirm Ripple Xrp
Vendor Technology

Coinfirm AML & Analytics Platform adds support for Ripple (XRP)

06/27/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
CasinoCoin to migrate to XRP Ledger amidst rebranding

CasinoCoin to migrate to XRP Ledger amidst rebranding

03/01/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures

Crypto services firm BCB Group raises $4.5M led by North Island Ventures and Blockchain.com Ventures

03/02/2021
DEX aggregator 1inch integrates Bitquery's API-powered crypto trading data

DEX aggregator 1inch integrates Bitquery’s API-powered crypto trading data

03/02/2021
Crypto exchange BiKi cooperates with Hacken on security test

Crypto exchange BiKi cooperates with Hacken on security test

03/02/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version