Source: Fintech Global
Formalize, the company formerly known as Whistleblower Software, has announced a significant milestone by securing €15m in Series A funding. This financial injection is led by BlackFin Tech, a key player in the investment community with a keen eye on the burgeoning compliance tech sector.
Since its last investment in November 2022, the company has seen a substantial increase in its annual recurring revenue and workforce. The whistleblower platform, now dubbed ‘Whistleblower Software by Formalize’, has been recognized as a market leader and serves over five million employees globally through partnerships with over 500 consultancies, including industry giants like PwC and Baker McKenzie.
“Due to the increased data compliance regulations from the EU, the standard approach to compliance is no longer sustainable. By automating large parts of the compliance processes, Formalize can help companies ease the work without compromising security and the ability to customize the platform to the company’s specific needs,” founder and CEO Jakob Lilholm stated, highlighting the critical nature of their mission in the current regulatory climate.
Read full article: https://fintech.global/2024/04/03/compliance-tech-leader-formalize-announces-e15m-series-a-funding/
