[Funding alert] München-based Sinpex’s Secures €4M in Funding
Jan 12, 2024 | By Startup Rise EU
![Munich-based Sinpex secure €4 Million in Funding. In the B2B market, Sinpex is a pioneer in automated identification and compliance solutions.](https://startuprise.co.uk/wp-content/uploads/2024/01/Munchen-based-Sinpexs-Secures-E4M-in-Funding.webp)
Munich-based Sinpex secure €4 Million in Funding. In the B2B market, Sinpex is a pioneer in automated identification and compliance solutions.
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TX Ventures and ACE Ventures are co-leading the round, with participation from current investors EquityPitcher and AI Fund, as well as bankers including Michael Stephan, the founder of Raisin, Stefan Loacker, the former CEO of Helvetia, and Serge Marquie, a former partner of Goldman Sachs.
Through artificial intelligence (AI) and natural language processing, the cloud-based software improves the accuracy of legitimising business relationships while decreasing the manual labour required to gather and validate compliance-relevant data.
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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."
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."
About Sinpex
Modern NLP technology is provided by Sinpex via a web application that is available to clients as an on-premises or cloud service. With a particular emphasis on KYC procedures, they support financial institutions and top management consulting firms in managing regulatory and required compliance processes.
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