Stockholm-based Bits Technology, a startup that aims to simplify and democratize financial tech services for everyone, announced that it has raised €4M in Seed funding to reshape how future fintech products are built.
In September 2022, the company raised €1M in pre-seed funding.
The company says the Seed funds will help it to accelerate its product development and go-to-market plan, enabling businesses to fortify their identity and anti-money laundering procedures against constantly changing threats.
The round was led by Unusual Ventures with additional backing from Fin Capital. Existing investors Cherry Ventures, Alliance Ventures, Forward VC, and Greens Ventures also participated in this round.
Founded in 2022 by Jontan Klintberg, Fredrik Eriksson, and Robin Lantz, Bits Technology is on a mission to simplify and democratize financial tech services for everyone.
The company says, “Our strategy involves the orchestration of multiple infrastructure and data sources, resulting in flexibility and dynamic user experiences.”
In 2023, Bits Technology will offer a range of solutions for the European market, including a no-code solution and API offering.
Through the platform, customers will be able to build dynamic onboarding flows that can be scaled across numerous markets without worrying about adhering to regional compliance laws or incorporating additional service providers.
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