Bits Technology announced it has raised a €12 million Series A round to accelerate product development and expand across Europe, positioning its compliance infrastructure platform as a single system for onboarding, risk assessment, and continuous monitoring for regulated financial institutions. The financing was led by Alstin Capital, with participation from Cherry Ventures, Unusual Ventures, and Alliance Ventures. Haval van Drumpt, Chief Executive of Tre Sweden, also invested.
Bits said it will use the new capital to deepen automation across financial crime workflows, broaden coverage of regulatory and data sources, and scale commercial operations across key European markets.
Bits is targeting a persistent pain point for banks and fintechs operating across Europe, where compliance teams often rely on fragmented stacks of local data providers, market-specific setups, and manual reviews that slow onboarding and raise costs. The company says that by consolidating these processes into a single platform, customers can reduce operational friction when expanding into new jurisdictions without rebuilding compliance operations market by market.
The platform is designed to replace multiple local compliance tools with a single integration that connects to European company registries, beneficial ownership data, PEP and sanctions lists, and fraud signals, with automated decisioning and unified case management. Bits said customers, including Qliro, Alisa Bank, and Walley, use the platform to modernize end-to-end compliance. At Qliro, the company said manual case handling has been reduced by 50 to 70 percent, while onboarding and approval times are 4 to 6 times faster, shifting human review toward higher risk cases.
Founded in 2022 by former operators from Klarna, AWS, and Tink, Bits positions its product as a compliance infrastructure that can scale across borders. The company said the platform supports KYC and KYB workflows across more than 100 jurisdictions and is designed to help regulated businesses enter new markets faster, reduce manual compliance work, and maintain regulatory confidence at scale.
KEY QUOTES
“For regulated entities, compliance is becoming a platform challenge, which cannot be addressed by point-solutions. Bits Technology unifies AML and fraud workflows into one system with consistent decisioning and auditability. The product is exceptional and it shows the team understands compliance operations from the inside. With AMLA and the EU’s move toward a single AML rulebook, expectations are rising and many institutions will need to re-evaluate whether their compliance technology remains fit for purpose and fully compliant,”
Alexander Meyer-Scharenberg, Principal, Alstin Capital
“Our customers need to scale, convert, and remain compliant at the same time. We built Bits to make compliance a growth enabler rather than a bottleneck. By unifying onboarding, fraud, and AML workflows in a single platform, teams gain the speed, control, and confidence needed to expand across Europe.”
Jonatan Klintberg, CEO and co-founder, Bits
