Avallone raises EUR 3.7 million for continued development of KYC products and landing new customers
Summary
Avallone, a member of Copenhagen Fintech , offers a comprehensive KYC platform - as well as KYC advisory and managed services - that empowers companies to meet the ever-growing regulatory and legal requirements to prevent money laundering and similar violations - aiming for a future where financial crime is relegated to the past.Since its inception in 2020, Avallones KYC software and services have been in constant demand. In response to the increasing focus on this sector and the impressive software, services, and team that Avallone has built, the Fintech Company has recently secured an impressive EUR 3.7 million in their seed round.Among the investors are both current backers - PreSeed Ventures - and several private investors/family offices, as well as the new investors Peter Reich and Klaus Eldrup-J\xf8rgensen, each bringing extensive experience in establishing successful companies. "This fundraise is significant for Avallone - as it enables us to both continue building an amazing platform that helps enterprises with their complex KYC needs - and to reach our financial goal of becoming break-even this year. Being able to fundraise in the current socio-political and financial environment is obviously also an amazing testament from investors - as they see the vast potential in the KYC / KYB space and with our team." \U0001f5e3The capital will be used primarily to grow and continue building exceptional enterprise KYC products and to land new customers within corporations, funds, financial institutions, and NGO/non-profit organizations.