Scorechain closes €2M Pre-Series A Financing round and prepares for Series A funding next year


Posted October 20, 2021 by Scorechain

Scorechain S.A., the company providing crypto risk-AML and compliance solutions, announces closure of a Pre-Series A funding round of €2M led by Tioga Capital (Luxembourg) and followed by Blockrocket (Germany) and CVVC Crypto Valley (Switzerland).

 
Luxembourg, October 20, 2021 - Scorechain S.A., the company providing crypto risk-AML and compliance solutions, announces closure of a Pre-Series A funding round of €2M 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 €2 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 8 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 visualization 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, quotes: “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: “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.”

Since the beginning of the year, Scorechain has doubled its headcount and intends to keep investing in product development as the adoption of crypto-asset and regulation are becoming imminent with a crypto market capitalization growing from $2 billion in 2018 to $2 trillion in 2021.

About Scorechain

Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance since 2015, the Luxembourgish company has helped 200+ customers from 40+ different countries, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets customers onboarding, audit and law firms, and some LEAs.
Scorechain solution supports Bitcoin analytics with Lightning Network detection, Ethereum analytics with full coverage of ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger, and Tezos. The software can de-anonymize the Blockchain data and connect with sanction lists to provide a risk scoring on digital assets transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.

About Tioga Capital

Tioga Capital is a European venture capital fund focusing on blockchain technology in order to create a world with more freedom & individual sovereignty and with a lower cost of trust. The fund is backed by leading European investors such as tech leaders (e.g. Jurgen Ingels and Bart Preneel), sovereign wealth funds (SRIW, SRIB and PMV) and Europe’s leading endowment (KU Leuven). Tioga is headquartered in Luxembourg and has offices in Brussels, London and San Francisco.

About Blockrocket / Blockchain Founder Group
 
Blockrocket is an accelerator program and early-stage investor for blockchain startups in Germany. We offer an exclusive ecosystem to help startups, corporates, and investors to leverage the potential of blockchain technology. Since our launch in 2019, we have acquired numerous well-known partners and mentors and handpicked some of the best blockchain startups among 150 applications for our program.

About CVVC

The Crypto Valley Association is an independent, government-supported association established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem. The CVA supports and connects startups and established enterprises through policy recommendations, projects across verticals, initiating and enabling research, and organizing conferences, hackathons, and other industry events.
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Contact Email [email protected]
Issued By Scorechain
Country Luxembourg
Categories Software , Technology , Blockchain
Last Updated October 20, 2021