Founded in 2019, the Munich startup Sinpex is a provider of compliance and AML solutions (anti-money laundering solutions). The cloud-based software reduces manual effort in capturing and verifying compliance-relevant data while simultaneously increasing accuracy in legitimizing business relationships. In doing so, the startup relies on artificial intelligence and natural language processing.
The now completed, oversubscribed funding round brings the startup fresh capital of four million euros. It is led jointly by investors TX Ventures and ACE Ventures, with participation from existing investors EquityPitcher and the AI Fund. In addition to various other business angels, banker Michael Stephan, founder of Raisin, former Helvetia CEO Stefan Loacker, and former Goldman Sachs partner Serge Marquie also invested. The startup plans to use the funds to strengthen growth and prepare for its international expansion.
Camillo Werdich, founder and CEO of Sinpex, says:
“In light of current regulatory developments, combating money laundering is becoming increasingly important and is in high demand across industries. We look back on an extremely successful 2023, in which we acquired significant customers and achieved temporary profitability. These successes have put us in the comfortable position that our funding round was oversubscribed and we were able to win renowned investors as partners for our growth. We are seizing the momentum of this funding round to establish the Sinpex brand beyond Germany’s borders.”
“Sinpex addresses one of the biggest challenges in the financial services industry”
Jens Schleuniger, managing partner at TX Ventures, says:
“Know-your-business processes are complex, expensive, and pose a genuine business risk for financial institutions. We were therefore very excited when we took a closer look at Sinpex’s software solution. In our view, Camillo’s team has created a new market standard – also through the use of modern technologies. We are therefore delighted that we were able to support the Sinpex team and lead this funding round.”
And Steve Salom, partner at ACE Ventures, adds:
“We are pleased to announce our investment in Sinpex, a leading company in the field of KYC for business customers. Under the leadership of Camillo, Sinpex is transforming not only the customer onboarding of regulated and unregulated businesses but also the continuous review of their data. Sinpex addresses one of the biggest challenges in the financial services industry and empowers companies to turn compliance into a strategic advantage. Sinpex’s advanced platform improves both KYC processes and risk management while demonstrating exceptional efficiency. We look forward to supporting Sinpex on its path to becoming a market leader in this category.”
