Danish startup spektr has successfully secured EUR 5 million in seed funding to enhance its platform designed for assisting financial sector firms with their due diligence processes.
Northzone, PreSeed Ventures, and Seedcamp joined the funding round as spektr officially launches. The platform aims to simplify due diligence through a customizable no-code approach to risk management and an automation engine that addresses up to 95% of alerts generated. According to the firm, this offers a faster, safer, and more cost-effective alternative to traditional manual methods.
Founded by experienced entrepreneurs, including CEO Mikkel Skarnager and Ciprian Florescu, who sold their previous startup, the no-code KYC and client onboarding platform HelloFlow, to Canada’s Trulioo for over $50 million in 2022, spektr aims to revolutionize compliance processes.
Skarnager stated, “With the spektr platform, we can transform ongoing due diligence into an efficient function that provides commercial value for companies instead of being a costly expense. Given the significant increase in employees and expenses, I believe there is substantial potential in enhancing compliance as a viable business operation.”