DLA Piper advises SIX Fintech Ventures on USD8 million Series A funding round for Coinfirm

DLA Piper has advised SIX Fintech Ventures, the corporate venture arm of Swiss exchange operator and data vendor SIX, on the co-lead of an USD8 million Series A funding round for Coinfirm, which operates a blockchain-based AML Platform for crypto assets designed to protect against ransomware hacks, human trafficking, sanctions evasion and terrorist financing by risk scoring entities, addresses and transactions.

Along with SIX Fintech Ventures, the Series A is co-led by FiveT Fintech, followed by MiddleGame Ventures. Mission Gate and CoinShares also participated in the round.

Founded in 2016, Coinfirm is headquartered in London, and has offices in Warsaw and Torun, Poland, and in Tokyo. The company provides solutions to help participants remain in compliance with Financial Action Task Force (FATF) guidance on money-laundering and terrorist financing operations. Coinfirm’s risk management platform is used by governments, financial institutions, custodians, payment providers, investment funds and exchanges.

SIX FinTech Venture is a CHF50 million corporate venture capital fund that invests in global early stage startups. The aim is to provide the Swiss and Spanish Financial Center with cutting edge technologies, business models, and solutions that meet customer expectations.

The DLA Piper team was led by partner Simon Vogel (Corporate/Private Equity, Munich) and also comprised partner Martin Bartlam, senior associates Chris Whittaker (both Finance & Projects), Alasdair Muller (all London), Linzi Penman (both IPT, Edinburgh) and associate Oliver Schmidt (Corporate/Private Equity, Munich).