European financial institutions face growing pressure to combat financial crime. Many still manage compliance with disconnected systems. These include country-specific tools, manual checks, and fragmented data sources. These create higher costs and slow down expansion across borders.
Bits offers a single compliance platform for Europe. It covers onboarding. It covers risk assessment. It covers ongoing monitoring. Clients use one integration to access company registries. They view beneficial ownership data. They check PEP and sanctions lists. They review fraud indicators. Automated decisioning supports AML and fraud checks.
Today, the Stockholm-based firm raised 12 million in Series A funding. This round aims to make European compliance simpler. Alstin Capital led the raise. Cherry Ventures, Unusual Ventures, Alliance Ventures, and Haval van Drumpt also joined the round.
