Blockchain start-up Coinfirm receives $700,000 in VC funding

Blockchain start-up Coinfirm receives $700,000 in VC funding

Coinfirm, a blockchain technology company that delivers compliance as a service, has been granted a $700,000 investment from Luma Ventures, a venture

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Coinfirm, a blockchain technology company that delivers compliance as a service, has been granted a $700,000 investment from Luma Ventures, a venture capital firm.

Cryptocoinnews.com has previously written about Coinfirm`s other projects such as the Coinfirm Blockchain Lab that opened in Central Europe. Also, the start-up company has been engaged in the creation of the Warsaw Block, a monthly blockchain digital currency and startup event.

“Much like the Internet was in the 90’s, Blockchain is going to very quickly affect countless industries and become a significant part of the systems that run our daily lives. Development and access at this stage should not only be available to financial institutions or well funded companies but also governments, developers, universities and other startups.”, said Paweł Kuskowski, Co-Founder of Coinfirm and expert in AML/KYC Compliance for blockchain and digital currencies, in a press release available at prweb.com.

Coinfirm`s AML risk and compliance platform streamlines the compliance process using big data analysis and machine learning.

The company has attracted the first blockchain investment of Luma Ventures. The latter is not widely known in the US or the UK, but has more than $1.1 billion in transactions.

“We are confident that with our support they (Coinfirm) will secure their leading position in the blockchain AML risk and compliance space. This is an important investment for Luma as it allows us to play a strategic role in the imminent transformation of the fintech sector”, said Tomasz Cichowicz, a partner at Luma Ventures.

“They give us a new set of extensive experience, network, and assets in tech and financial ecosystems as well as a partner who can assist us on in our further development from the ground up.”, said Kuskowski in an interview with cryptocoinnews.com.

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