Danish-based Formalize raised €15 million aiming to become Europes leading compliance software provider
Summary
The stringent regulatory requirements imposed on both private and public institutions by the EU have made everyday compliance a complex and time-consuming task, which detracts from competing business priorities. By automating large parts of the compliance processes, Formalize can help companies ease the work without compromising security and the ability to customize the platform to the company’s specific needs.” The regulatory requirements imposed on private and public institutions by the EU have made compliance a time-consuming task that limits organizations in developing their business. BlackFin Tech, the lead investor in the funding round, sees huge potential in Formalize and the market in general. Michele Foradori, Investment Director at BlackFin mentioned: “With the increased demands being placed on organizations across the EU, the potential to automate compliance processes and reporting is huge. Jakob Lilholm added: “We are delighted to close our round with an investor who shares our ambition to become the leading compliance software provider in Europe.