Bits, a compliance infrastructure platform focused on unifying anti-money laundering processes, has raised €12m in Series A funding to accelerate product development and expand its European footprint.
The Series A round was led by Alstin Capital, with participation from Cherry Ventures, Unusual Ventures and Alliance Ventures. Haval van Drumpt, chief executive of Tre Sweden, also invested in the round.
The fresh capital will be used to deepen automation across financial crime workflows, broaden access to regulatory and data sources and scale commercial operations across key European markets.
Bits offers a pan-European compliance platform covering onboarding, risk assessment and continuous monitoring. Through a single integration, customers can access European company registries, beneficial ownership data, politically exposed person and sanctions lists, as well as fraud signals. These inputs are combined with automated AML and fraud decisioning and unified case management, allowing firms to replace local compliance stacks with a single system and scale across borders without bespoke builds.
Founded in 2022 by former operators from Klarna, AWS and Tink, Bits was created by a team that had firsthand experience of the operational burden caused by fragmented and manual compliance processes while scaling regulated financial products across Europe.
The new funding will support further product expansion, increased automation across fraud and financial crime detection workflows and broader European data coverage. The company also plans to scale its go-to-market organisation as it targets continued growth across the DACH region and the UK.
Alstin Capital principal Alexander Meyer-Scharenberg said, “For regulated entities, compliance is becoming a platform challenge, which cannot be addressed by point-solutions. Bits Technology unifies AML and fraud workflows into one system with consistent decisioning and auditability. The product is exceptional and it shows the team understands compliance operations from the inside. With AMLA and the EU’s move toward a single AML rulebook, expectations are rising and many institutions will need to re-evaluate whether their compliance technology remains fit for purpose and fully compliant.”
Bits CEO and co-founder Jonatan Klintberg said, “Our customers need to scale, convert, and remain compliant at the same time. We built Bits to make compliance a growth enabler rather than a bottleneck. By unifying onboarding, fraud, and AML workflows in a single platform, teams gain the speed, control, and confidence needed to expand across Europe.”
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