Sinpex's cloud-based AML software attracts €4M investment

Today business compliance and anti-money laundering (AML) solution provider Sinpex closed an oversubscribed financing round of €4 million. 

Sinpex is a pioneer in automated identification and compliance solutions in the B2B environment. The cloud-based software reduces the manual effort involved in collecting and verifying compliance-relevant data while increasing the accuracy of legitimising business relationships through AI and natural language processing. 

According to Dr Camillo Werdich, founder and CEO of Sinpex:

"In light of current regulatory developments, anti-money laundering is becoming increasingly important and is in high demand across all industries. We can look back on a highly successful 2023, in which we acquired major customers and achieved profitability at times." 

The round is co-led by TX Ventures and Ace Ventures, with participation from existing investors EquityPitcher, AI Fund and bankers such as Raisin founder Michael Stephan, former Helvetia CEO Stefan Loacker and former Goldman Sachs partner Serge Marquie. 

Jens Schleuniger, Managing Partner at TX Ventures, says:

"Know-your-business processes are complex, expensive and represent a real business risk for financial institutions. 
We were, therefore, very excited when we analysed Sinpex's software solution in more detail.

The team around Camillo has created a new market standard, also by using modern technologies. We are therefore very pleased to have been able to support the Sinpex team and lead the financing round."

Steve Salom, Partner at ACE Ventures, adds:

"We are pleased to announce our investment in Sinpex, a revolutionary company in the onboarding of business customers.

Under the leadership of Camillo, Sinpex is not only transforming the customer onboarding of regulated and non-regulated companies but also the continuous verification of their data.

Sinpex supports one of the biggest challenges in the financial services industry and enables companies to turn compliance into a strategic advantage. We look forward to supporting Sinpex on its way to becoming a market leader in this category."The investment helps prepare for Sinpex's international expansion.

Lead image: Sean Pollock.