January 11, 2024
TX Ventures and ACE Ventures co-lead the financing round, in which existing investors EquityPitcher and AI Fund also participate. With this financing, the startup Sinpex, a provider of compliance and AML (Anti-Money Laundering) solutions, aims to expand its growth and prepare for international expansion.
'Given the current regulatory developments, the fight against money laundering is increasingly gaining importance and is in high demand across industries. We look back on a very successful year 2023, in which we won significant customers and recorded temporary profitability. I am happy to announce that the financing round was oversubscribed and we were able to win renowned investors as partners for our growth." - Dr. Camillo Werdich (CEO 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 in more detail. In our opinion, the team around Camillo has created a new market standard - also through the use of modern technologies. We are therefore very pleased to have been able to support the Sinpex team and to have co-led the financing round.'
Steve Salom, Partner at ACE Ventures, adds, 'We are pleased to announce our investment in Sinpex, a leading company in the KYC space for business customers. Under the leadership of Camillo, Sinpex is transforming not only the customer onboarding of regulated and non-regulated companies but also the continuous monitoring of their data. Sinpex solves one of the biggest challenges in the financial services industry and enables companies to turn compliance into a strategic advantage. Sinpex's advanced platform improves both KYC processes and risk management while demonstrating exceptional efficiency. We are excited to support Sinpex on its journey to become the category leader.'
In conjunction with the financing round, Diane Siegloch, previously Head of Sales, has been promoted to Chief Sales Officer (CSO). Diane is the first of three management members to be announced in the coming weeks. 'I thank Camillo for his trust and look forward to the exciting challenges that await us in the internationalization of Sinpex,' – (Diane Siegloch CSO Sinpex)
Sinpex, a Munich-based start-up that providesautomated identification and compliance solutions, has won the second prize atthe renowned Fintech Germany Award in the Seed Stage category.
New Access and Sinpex establish a strategic partnership for simplified compliance processes
Sinpex successfully closed a €1.5m seed round. New investors are EquityPitcher Ventures and AI.Fund.