Coinfirm, a London, UK-based global leader in RegTech for digital currencies and the blockchain-based financial ecosystem, closed an USD8m Series A funding.
The round was co-led by Six Fintech Ventures, the corporate venture arm of SIX, and FiveT Fintech, followed by MiddleGame Ventures. Mission Gate and CoinShares also participated in this round.
The company intends to use the funds to continue its growth trajectory in the EU, expand its offering to the Asian and US markets, and strengthen the enterprise and financial institution offering, to complement its offering for crypto market participants.
Led by newly appointed CEO Dr. Mircea Mihaescu, Coinfirm provides a risk management platform for crypto assets. It is powering the mass adoption of blockchain by protecting the next generation of FinTechs from ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions.
Coinfirm is used by governments, financial institutions, custodians, payment providers, investment funds and exchanges. The 1,500+ protocol-supporting AML Platform utilizes 330+ proprietary risk algorithms to provide a seamless, scalable solution to stringent regulatory requirements for both CeFi and DeFi.
Founded in 2016, the company is headquartered in London, UK, with the company retaining Warsaw and Torun offices in Poland, and Tokyo, Japan.
Pawel Kuskowski will hand over to Dr. Mircea Mihaescu as Coinfirm’s Chief Executive Officer. Dr. Mihaescu joined the company earlier this year as Executive Chairman, and now steps into the CEO role. In conjunction with the funding, Alexander Christen, CEO of FiveT Fintech, will join Pascal Bouvier, General Partner at MiddleGame Ventures, and Dr. Mircea Mihaescu on Coinfirm’s Board of Directors. Maximilian Spelmeyer of SIX Fintech Ventures and Daniel O’Brien of Bird Capital join Coinfirm as non-director members.