The investment round was led by Denmark-based VC PreSeed Ventures and UK-based Seedcamp. The company improves client onboarding and identity verification in the financial industry with a no-code platform, that integrates with ID authentication services in local markets.
With an increasing focus on anti-money laundering (AML) processes in the financial industry, not least due to a series of international scandals and fines against financial institutions reaching USD 10.4 billion in 2020, the regulatory requirements and compliance standards for onboarding new clients to banks, investment & trading platforms, crypto broker services, sports betting sites and alike have exploded.
With their digital no-code onboarding platform HelloFlow, therefore, taps into a rapidly growing market estimated to EUR 1 billion at the time being.
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