Stockholm-based Bits has raised €12 million in a Series A funding round to further automate compliance and financial crime workflows for banks and regulated fintechs across Europe.
The round was led by Alstin Capital, with participation from Cherry Ventures, Unusual Ventures, Alliance Ventures, and angel investor Haval van Drumpt, CEO of Tre Sweden.
What Bits does
Founded in 2022 by former operators from Klarna, AWS, and Tink, Bits provides a unified compliance infrastructure covering onboarding, fraud prevention, AML, and continuous monitoring. The platform supports KYC and KYB workflows in more than 100 jurisdictions and connects to a broad range of European data sources and eID providers through a single integration.
Bits is designed to replace fragmented, country-specific compliance stacks with one pan-European system that allows regulated companies to expand without rebuilding processes market by market.
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Why it matters
Across Europe, banks and fintechs face rising fraud and money-laundering risks alongside tighter regulatory scrutiny, while customers increasingly expect fast, fully digital onboarding. Many institutions still rely on disconnected tools and manual reviews, creating operational bottlenecks and slowing growth.
The company positions compliance as a growth enabler rather than a blocker. Its customers report reducing manual case handling by 50 to 70 percent and cutting onboarding timelines from weeks to days or even hours, while keeping human review focused on higher-risk cases.
Current customers include Qliro, Alisa Bank, and Walley.
What the investors say
According to Alstin Capital, compliance is becoming a platform-level challenge that cannot be solved with isolated point solutions. By unifying AML and fraud workflows into a single system with consistent decisioning and auditability, Bits addresses compliance from an operational, real-world perspective.
What’s next
The startup will use the new funding to expand product capabilities, deepen automation across fraud and financial crime detection, and increase regulatory and data coverage across Europe. The company also plans to scale its go-to-market team as it continues expanding across the DACH region and the UK.
About Bits
Bits is a Stockholm-based compliance technology company offering a pan-European platform for onboarding, risk assessment, and continuous monitoring. By automating regulatory workflows and integrating critical data sources, Bits helps banks and fintechs scale securely while reducing operational complexity and compliance costs.
