TX Ventures co-leads EUR 4M funding round in AI-based KYC solution Sinpex
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Sinpex founders Dr. Camillo Werdich and Diane Siegloch

With this financing, Sinpex, a provider of compliance and AML (Anti-Money Laundering) solutions, aims to grow and prepare for international expansion.

Sinpex is a pioneer in automated identification and compliance solutions for business customers. The cloud-based software reduces the manual effort in collecting and verifying compliance-relevant data while simultaneously increasing the accuracy in legitimizing business relationships through the use of artificial intelligence and natural language processing. Sinpex was founded in 2019 and is based in Munich. Notable clients include Deloitte, Riverty, and Noventi.

"In light of current regulatory developments, the fight against money laundering is increasingly important and in high demand across industries. 2023 was an extremely successful year, during which we won significant logos and customers and even touched profitability. Our oversubscribed round led by European and global investors is a testament to our success, and we look forward to partnering with them to accelerate our growth," says Dr. Camillo Werdich, founder and CEO of Sinpex.

Jens Schleuniger, Managing Partner at TX Ventures, says: "Know-your-Business processes are complex, expensive, and pose a real business risk for financial institutions. Accordingly, we were thrilled when we analyzed Sinpex’s software solution more closely. The team around Camillo has, in our opinion, created a new market standard – also through the use of modern technologies. We are accordingly very happy to support the Sinpex team and lead the funding round."

In the tailwind of regulatory developments, Sinpex is best positioned to capture the multi-billion KYC and anti-money laundering market. This funding round will fuel the international rollout of the company, spearheaded by an outstanding team with top-notch technology at their disposal.

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