Danish Due Diligence Fintech spektr Launches

Danish startup spektr has raised EUR5 million in seed funding for its platform to help financial sector firms with their due diligence processes.

Northzone, PreSeed Ventures, and Seedcamp participated in the round for spektr as it officially launches.

The platform promises hassle-free due diligence by offering a market-customisable no-code approach to risk and an automation engine that solves up to 95% of alerts found. This, says the firm, makes it a faster, safer and more budget-friendly alternative compared to traditional manual methods.

The startup was built by serial entrepreneurs, including CEO Mikkel Skarnager and Ciprian Florescu, who in 2022 sold their previous startup, no-code KYC and client onboarding platform HelloFlow, to Canada's Trulioo for over $50 million.

"With the spektr-platform, we can make ongoing due diligence an efficient function with commercial value for companies rather than being a costly expense. When looking at the explosion in the number of employees and expenses, I am convinced that there is great potential in making compliance a better business," says Skarnager.

(Source: Finextra)