📝 Bits raises $14M

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Stockholm-based Bits Technology has successfully secured $14 million in a Series A funding round to tackle the increasingly complex web of European fintech compliance. Led by Alstin Capital with backing from heavyweights like Cherry Ventures and Unusual Ventures, the company is positioning its unified platform as a "growth engine" rather than a bureaucratic bottleneck. This fresh capital arrives exactly as the European Union moves toward a single AML rulebook, a regulatory shift that often leaves traditional banks struggling with fragmented data and slow onboarding times. By integrating KYC, KYB, and fraud detection into a single pan-European interface, Bits claims it can slash manual review times by up to 70% while accelerating customer approvals from weeks to mere days. The team, composed of former Klarna and AWS operators, plans to use these funds to aggressively target the DACH region and the United Kingdom, aiming to become the dominant infrastructure layer for the next generation of regulated financial services.

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