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...

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’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 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.