Formalize raises €30M to advance compliance solutions across Europe
Copenhagen-based Formalize has secured €30 million in a Series B funding round, co-led by Acton Capital and Blackfin Tech. This significant investment highlights the growing importance of compliance solutions for European businesses navigating an increasingly complex regulatory environment. The company, which has now raised a total of €50 million, aims to further solidify its position in the European market. Formalize offers a platform designed to automate compliance workflows, consolidating requirements and aiding companies in managing ongoing regulatory changes. The platform supports key frameworks such as NIS2, DORA, ISO 27001, GDPR, and SOC 2, serving organizations in over 80 countries and supporting more than 12 languages. Initially focused on Whistleblower Software, Formalize has expanded into broader risk, privacy, and data compliance solutions, reflecting the evolving needs of businesses. This funding will facilitate Formalize's expansion across Europe, with a particular focus on the DACH region and France, including opening new offices and growing local teams. The company's growth underscores the increasing need for robust compliance tools, driven by stricter regulations and the demand for digital sovereignty across the continent. By automating Governance, Risk, and Compliance (GRC) processes, Formalize is helping European SMBs navigate the complex digital landscape.
To provide multilingual access, this article summary was automatically generated.
Source Information
European Alternatives You Might Like
Mangopay
Mangopay is a payment infrastructure provider specializing in payments for marketplaces and platforms. It offers virtual wallet technology for managing funds, enabling features such as split payments, multi-currency support, and KYC/AML compliance. Key functionalities include automated payouts, transaction monitoring, and customizable payment flows. This service is primarily aimed at businesses that manage marketplaces, crowdfunding platforms, and sharing economy models and require complex payment solutions. Mangopay distinguishes itself by offering a flexible and scalable payment solution specifically designed for platform-based business models, allowing them to control cash flows and streamline payment processes.
Scaleway
Scaleway is a European cloud computing provider offering a range of services, including servers, storage, and networking solutions. Key features include bare metal servers, virtual machines, object storage, and managed Kubernetes. It's suitable for developers, startups, and businesses seeking cloud infrastructure for web applications, data storage, and various other workloads. Scaleway distinguishes itself through competitive pricing and a focus on European data sovereignty, with data centers in France and the Netherlands.