Scorechain, a provider of crypto risk-AML and compliance solutions, has closed a pre-Series A funding round of EUR2 million led by Tioga Capital (Luxembourg) and followed by Blockrocket (Germany) and CVVC Crypto Valley (Switzerland).
Scorechain, a provider of crypto risk-AML and compliance solutions, has closed a pre-Series A funding round of EUR2 million led by Tioga Capital (Luxembourg) and followed by Blockrocket (Germany) and CVVC Crypto Valley (Switzerland).
The objective of this latest round is to accelerate the company’s growth in Europe, highly regulated countries and reach new emerging markets such as APAC and Latam.
Scorechain is a Luxembourgish company providing crypto-asset analytics and compliance solutions to crypto companies and financial institutions helping them meet AML regulations worldwide. The company provides risk analysis and scoring for crypto transactions, clusters detection, AI prediction, address identification, and graphical visualization for Bitcoin, Bitcoin Cash, Ethereum (with full coverage of ERC20 tokens and stablecoins), Dash, Litecoin, XRP Ledger (and IOUs), Tezos and Tron (with TRC10 and TRC20 tokens).
The company has been providing crypto-asset compliance solutions since 2015 and was the first European company in this industry. Since then, it has helped more than 200 customers in more than 40 different countries. With this financing series, Scorechain achieved an investment round of EUR2 million.
Pierre Gérard, Scorechain’s co-founder and CEO says: “We’re excited to receive funds from blockchain VCs. Our wonderful team has already achieved great success during the last years and this round will not only help us to accelerate our growth but also add expertise and grow our network.”
Scorechain is currently expanding its features to adapt to the fast-paced environment and regulation change of crypto-assets, as well as adding new blockchains to the lineup which already covers eight major Blockchains and 3000+ tokens and crypto-assets. Our newest product is the Exploration Tool, which helps users conduct thorough investigations on crypto wallets, providing a clear visualisation of how wallets interact with each other and how they are linked to certain kinds of illicit or suspicious activities.
Patrick Van de Mosselaer, investor and newly appointed board member, says: “We are truly pleased to partner with these visionary European pioneers who were the first in Europe to start providing KYT services. This small and powerful team harnesses a lot of knowledge and data that allows them to provide an excellent service to both TradFi and Crypto Native companies. We are looking forward to seeing how this truly European company will further shape the creation of a burgeoning and compliant blockchain ecosystem throughout Europe and the world.”
Wolfgang Männel Senior Partner at BFG, says: “We believe that Scorechain will be among the top three global players in the quickly growing market of blockchain analytics and compliance solutions, and will especially benefit from their intimate knowledge of the European market and regulations.”
