Blanco Services, which develops an all-in-one tech platform for asset managers, raised EUR 2 million in a second financing round. The round was led by the Dutch Founders Fund and saw participation from Volta Ventures, KBC Start IT Fund, and strategic investors.
The Netherlands-based start-up plans to use the funds to roll out its Digital Asset Management Platform and to help speed up the launch of its KYC Solution in France and Germany.
Eric Veeneman, managing partner and co-founder of the Dutch Founders Fund, speaks of Blanco’s KYC solution and funding thusly:
“The legal KYC obligation is a lot of hassle not only for financial organizations, but also for regulated companies in general, such as law firms. We are impressed by the KYC Solution that Blanco has developed: there is a real need for this. This investment will enable an accelerated rollout of the KYC Solution in Germany and France, in addition to the Netherlands and Belgium.”
Blanco Services’ KYC Solution differs from other offerings currently on the market according to its CFO, Bernadette Wijnings, because, “Instead of a legal obligation that leads to a complex process with a high chance of customers dropping out, we made the KYC process so simple that it actually becomes a chance for companies to really get to know their customers better.”