Munich Startup: What problem do you solve?
Maximilian Reinhard, co-founder: KYC (Editor’s note: Know Your Customer is a legally mandated process for verifying the identity of new customers to prevent money laundering) is already an inadequately solved problem for many regulated entities today and administratively an absolute nightmare. The status quo is characterized by extremely laborious manual processes and constant data inconsistencies. The new EU AML Regulation (AMLR) now massively amplifies this problem because it operates far more data-driven and sets significantly higher requirements for information detail and currency. This is exactly where we step in: Legalian transforms this growing data and process dilemma through radical automation and mapping the entire workflow based on primary data into an efficient, legally compliant solution.
Munich Startup: What can only you do today?
Maximilian Reinhard: We are the first provider with an architecture built on primary data that extracts information directly from primary sources like the commercial register. While the market often relies on outdated data from intermediaries, we combine direct access and intelligent analysis in a single platform. This enables automatic UBO extraction and real-time visualization of complex structures as ready-made KYC checks – flawlessly and without manual transcription errors. Additionally, we transform KYC from a one-time snapshot into “perpetual monitoring”. We provide the technological solution to continuously monitor portfolios for changes.
Founding idea born from practical frustration
Munich Startup: What was the trigger for founding the company?
Maximilian Reinhard: The trigger was our personal experience and frustration from practice. Our founding team comes from private equity, consulting, and fintech – so we experienced these problems firsthand at various points in our careers. We sat on both sides of the table: sometimes we had to conduct checks ourselves, sometimes we were being checked. Since we didn’t see any technologically convincing software on the market that really digitalized this process meaningfully, we decided to fill this gap ourselves.
Munich Startup: Was there a moment when you thought about giving up?
Maximilian Reinhard: No. We set ourselves the clear goal of solving the data and process problem for KYC checks across Europe. The fact that we’re advancing this endeavor completely bootstrapped gives us the necessary independence and agility. Seeing our ten-person team implement this vision day in and day out today is the best confirmation you could ask for.
Reduce manual load and increase security
Munich Startup: How would you know in a year that you’re on the right path?
Maximilian Reinhard: Success for us means being established as a trusted partner for KYC processes across Europe. Our most important KPI is customer satisfaction: if they can effectively and completely handle a large number of checks in the shortest time using our platform, we’ve achieved our goal. We measure ourselves by how much we reduce manual load while simultaneously increasing security.
Munich Startup: Would you found again in Munich and why?
Maximilian Reinhard: Yes, definitely. The ecosystem around TUM and UnternehmerTUM offers incredibly good support. Especially for legal tech and regtech, Munich is ideal because we find both the necessary talent and demanding B2B customers here who are looking for exactly the technological excellence that Legalian offers.
Munich Startup: Perfection or speed?
Maximilian Reinhard: In compliance, there is no “either-or”. Perfection is essential to be legally compliant, while speed is necessary to handle today’s data volumes. Only the balance between both enables our customers to focus on assessing the truly important risks instead of wasting valuable time on administrative tasks.
