Founded in 2019, the Munich-based startup Sinpex is a provider of compliance and AML (anti-money laundering) solutions. The cloud-based software reduces the manual effort required to capture and verify compliance-relevant data while simultaneously increasing the accuracy of legitimizing business relationships. the startup on artificial intelligence and natural language processing.
The now completed, oversubscribed financing round brings the startup €4 million in fresh capital. It is jointly led by investors TX Ventures and ACE Ventures, with participation from existing investors EquityPitcher and the AI Fund. In addition to other business angels, bankers Michael Stephan, founder of Raisin, former Helvetia CEO Stefan Loacker, and former Goldman Sachs partner Serge Marquie also invested. The startup plans to invest the money in strengthening growth and preparing for its international expansion.
Camillo Werdich, founder and CEO of Sinpex, says:
"Given current regulatory developments, combating money laundering is becoming increasingly important and is in high demand across all industries. We look back on an extremely successful 2023, in which we acquired significant customers and achieved temporary profitability. These successes put us in the comfortable position that our financing round was oversubscribed and we were able to attract renowned investors as partners for our growth. We are using the momentum of the financing round as an opportunity to make the Sinpex brand known beyond Germany's borders."
“Sinpex supports one of the biggest challenges facing the financial services industry”
Jens Schleuniger, Managing Partner at TX Ventures, says:
"Know-your-business processes are complex, expensive, and pose a real business risk for financial institutions. We were therefore excited when we analyzed Sinpex's software solution in more detail. We believe that Camillo's team has set a new market standard – also through the use of modern technologies. We are therefore delighted to have been able to support the Sinpex team and lead the financing round."
And Steve Salom, Partner at ACE Ventures, adds:
"We are pleased to announce our investment in Sinpex, a leader in business customer KYC. Under Camillo's leadership, Sinpex is transforming not only the customer onboarding process for regulated and unregulated firms, but also the continuous auditing of their data. Sinpex is helping address one of the financial services industry's biggest challenges, enabling companies to turn regulatory compliance into a strategic advantage. Sinpex's advanced platform improves both KYC processes and risk management, demonstrating exceptional efficiency. We are excited to support Sinpex on its journey to becoming a category leader."
