Coinfirm, a blockchain technology company with a specific focus on Compliance as a Service, has announced an investment of $700k from Luma Ventures, the IT focused VC fund, to scale-up and build additional value to its blockchain AML and compliance platform with further services and features. Coinfirm has opened the current round to other investors. The start-up looks to begin projects with large entities and financial in blockchain and regtech markets institutions.
As the blockchain ecosystem continues to grow exponentially and the regtech market is expected to rise to $100b over the next few years, Coinfirm is positioning itself to participate in both spaces. Their blockchain AML risk and compliance platform solves a significant roadblocks in cryptocurrency and blockchain adoption. By streamlining the compliance process and taking it to near-automation with big data analysis and machine learning Coinfirm’s platform aims to significantly reduce costs and time spent, but also maximize efficiency and change how the compliance landscape has operated until now.