Amsterdam-based fintech startup Fourthline is reshaping risk management by becoming the “fourth line of defense” in financial institutions. Founded by Krik Gunning and Chris van Straeten, Fourthline offers advanced Know Your Customer (KYC) and anti-money laundering (AML) services, enhancing the compliance landscape. With clients including N26 and Trade Republic, Fourthline helps financial institutions navigate complex regulations while containing compliance costs. Leveraging Amazon Web Services (AWS) for cloud infrastructure, the company embraces AI, foreseeing AI regulation as a pivotal factor. Fourthline’s rapid growth and focus on KYC, AML, and ID verification, along with substantial funding, position it as a significant player in European financial compliance, with ambitions for further expansion. Read full article here.

Invesdor Says Merger with Oneplanetcrowd Going Well as Green Wind Offering Successfully Funds (crowdfund insider)

Invesdor, a European Union-approved securities crowdfunding platform, highlights the success of a funding round for the Oude Maas wind farm project, following its acquisition of Oneplanetcrowd, an impact funding platform specializing in green securities offerings, in late 2022. The Dutch wind farm raised almost half of its €1.8 million debt offering from investors in Germany, Austria, and Switzerland (DACH), with the remainder coming from the Netherlands. Invesdor’s CEO, Christopher Grätz, emphasized their ability to offer cross-border investment opportunities thanks to their ECSP license and the merger with Oneplanetcrowd, promoting sustainable energy projects. The project, with a 7.17-year bond and a 5.0% interest rate, reflects a commitment to local green energy production for a Dutch community striving for fossil fuel independence. Invesdor also plans to list another project in the same region, supporting Land Life in their reforestation efforts on a global scale. Read full article here.

Rise in Bankruptcies Continues: 60% More Companies Go Bankrupt in the First 9 Months of 2023 (Business Insider NL)

The number of bankruptcies in the Netherlands continues to rise, with a 60% increase in businesses declared bankrupt in the first nine months of 2023 compared to the same period in 2022, according to data from the Central Bureau of Statistics (CBS). In September, 278 businesses and institutions were declared bankrupt, marking a 9% increase from August. This upward trend in bankruptcies has persisted for seventeen consecutive months. Notably, the specialized business services sector, including advisory and research, experienced the most significant increase, nearly doubling from 26 to 50 bankruptcies compared to August. In contrast, the trade sector saw a substantial decrease in bankruptcies, nearly halving from the previous month, while the hospitality industry and financial institutions experienced more bankruptcies. This data reflects the challenges facing businesses and sectors, possibly influenced by economic uncertainties and the aftermath of the COVID-19 pandemic. Read full article here.