Fintech startup Spektr revolutionizes financial compliance

Category: AI Europe Fintech Startup
Posted by Lea Hogg

Spektr, a Copenhagen-based fintech startup, has officially launched with a bang. The company, which aims to transform ongoing due diligence processes in the financial sector, has secured a whopping EUR 5 million support from venture capital funds.

The founding team (pictured above), of Spektr is a blend of experience and innovation, and includes Romanian Ciprian Florescu, CEO Mikkel Skarnager, Jérémy Joly, and Jan-Erik Wagner. Skarnager and Florescu are no strangers to success, having sold their previous startup, HelloFlow, to Canadian company Trulioo in 2022 for over USD 50 million.

Even before its official launch, Spektr has already secured EUR 5 million in seed funding from Northzone, Danish PreSeed Ventures’ tech fund PSV Tech01, and pan-European Seedcamp. Both PreSeed Ventures and Seedcamp were also investors of HelloFlow, further strengthening the trust in this new venture.

Revolutionizing risk assessment

Spektr’s platform offers financial companies an automated solution for risk assessments that is customizable to adhere to rules and laws across different markets. Recognizing the exponential growth of the compliance field globally, with an estimated cost of USD 10,000 per employee in larger financial companies, Spektr aims to simplify risk-based monitoring with a user-friendly platform that does not require specialized IT skills for the user.

CEO Mikkel Skarnager commented, “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 there is great potential in making compliance a better business.”

Alexander Viterbo-Horten, general partner in PSV Tech01, added, “As one of the earliest investors in Mikkel and Ciprian’s first startup HelloFlow, I’ve been fortunate enough to get to know them very well. Their execution power and strategic understanding of the financial compliance market are profoundly impressive. This makes Spektr one of the best bets on a future unicorn out of Denmark.

 

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