algoreg, a Luxembourg-based innovative regulatory technology (regtech) company, completed a $1m Series A funding.
The round was led by GAI RegTech Ventures, Jean-Pierre Bitton and G&F fund. Bitton has also joined the management team as Chief Sales Officer and member of the Board of Directors.
The company will use the funds to continue enhancing their onboarding modular platform, hire a significant number of technology staff and expand the footprint in Europe.
algoreg provides a SasS platform for regulated firms to reach full compliance with regulatory requirements enabling compliant customer onboarding, decreasing operational cost of doing KYC and improving the customer user experience.