This first institutional investment round enables Coinfirm to expand its leading blockchain and digital asset compliance and analytics products in the U.S., build out its AML B2B Compliance-As-A-Service solution, and launch asset recovery and investigation solutions.
“We are deeply impressed with what Coinfirm has been able to achieve already,” said Daniel O’Brien, co-founder and Managing Partner at Bird Capital, who also joins Coinfirm’s board. “This is a prime example of a company solving real problems in B2B SaaS. The team has capitalized on regulatory tailwinds to build strong momentum in customer acquisition, including ARR contracts, and we are excited for this to accelerate going forward.”
“We see a great market here with huge potential to grow. Our technology now is best-in-industry, and we plan to use these funds to build sales and expand, expand, expand internationally,” said CEO Pawel Kuskowski. “The cryptocurrency recovery and investigation market accessed via Reclaim Crypto alone is worth over $10 billion and Coinfirm is the first mover in this space, where we have already notched some successes and are working with prominent partners such as Kroll/Duff & Phelps. As we grow and expand commercially, we are helping prevent crime, money laundering and illicit flows of funds, and making the work of compliance officers easier and more effective.”
Coinfirm’s blockchain-agnostic platform is used by groups around the world, ranging from major financial institutions to cryptocurrency exchanges. Coinfirm has gained significant traction as the go-to provider for digital asset compliance and analytics, working with major players in the blockchain and RegTech industries. Existing clients and affiliates include the likes of PKO BP, the largest bank in Central and Eastern Europe; Binance; Xapo; RSK; and the Government of Gibraltar.
“Working with Confirm ensures us a comprehensive risk framework that balances user protection and user experience while complying with the FATF's AML guidelines,” said Binance Chief Compliance Officer Samuel Lim in a story published at Forbes.com in October 2019. “They have a wide blockchain coverage and proprietary algorithms that cover more than 270 risk scenarios in real-time."
Coinfirm is a global leader in AML & Analytics for blockchains and cryptocurrencies. It offers the industry’s largest blockchain coverage, supporting over 1,300 cryptocurrencies including Bitcoin, Ethereum, and Hyperledger. The Coinfirm AML Platform is used by market leaders globally, ranging from crypto exchanges such as Binance and protocols like XRP to major financial institutions like PKO BP. The company’s services also include compliance investigations in partnership with Kroll, as well as Trudatum, a standalone platform that allows any file to be registered, signed, and verified with 100% accuracy. To get the latest company updates follow us on Twitter, Linkedin and like our Facebook page. For more information, visit https://www.coinfirm.com/
1 Source: Cambridge Centre for Alternative Finance