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Scorechain Raises €2M To Accelerate Global Growth

Scorechain, a Luxembourgish company who specializes in providing crypto-asset analytics and compliance solutions, has announced a closure of a Pre-Series A funding round of €2M led by Tioga Capital (Luxembourg) and followed by Blockrocket (Germany) and CV VC Crypto Valley (Switzerland).

Photo: Scorechain

As a leader in crypto compliance since 2015, Scorechain has helped more than 200 customers across 40 different countries, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets customers onboarding, audit and law firms, and some LEAs.

With respect to the fundraising process, Scorechain’s Co-Founder and CEO, Pierre Gérard, says “We started the funding process in the middle of the pandemic crisis, so the timing was not perfect. But we have built a very good relationship with Tioga Capital and they helped us to onboard two other funds: Blockrocket and CVVC. We are glad to have these three European investors who will take an active role in our growth.”

Scorechain plans to use the €2 million to expand across Europe, APAC and Latam. “Our wonderful team has already achieved great success during the last years and this round will not only help us to accelerate our growth but also add expertise and grow our network” says Gérard.

“We believe that Scorechain will be among the top three global players in the quickly growing market of blockchain analytics and compliance solutions.”

Scorechain is currently expanding its features to adapt to the fast-paced environment and regulation change of crypto-assets, as well as adding new blockchains to the lineup which already covers 8 major Blockchains and 3000+ tokens and crypto-assets. Their newest product, Exploration Tool, helps users conduct thorough investigations on crypto wallets, providing a clear visualization of how wallets interact with each other and how they are linked to certain kinds of illicit or suspicious activities.

Tioga Capital’s Managing Director, Patrick Van de Mosselaer, says “We are looking forward to seeing how this truly European company will further shape the creation of a burgeoning and compliant blockchain ecosystem throughout Europe and the world.”

Wolfgang Männel, Senior Partner at BFG Blockchain Founders Group AG, says “We believe that Scorechain will be among the top three global players in the quickly growing market of blockchain analytics and compliance solutions, and will especially benefit from their intimate knowledge of the European market and regulations.”

To support its global growth plans, Scorechain is on the lookout for exceptional sales talent with SaaS and blockchain experience. When it comes to the company culture, Marketing Manager Ignacio Aguirre says “It’s an amazing environment with really interesting work. Because of how fast the industry is changing, we have to be agile, and that’s something I love about the company.”

To learn more about Scorechain, visit their website or follow them on LinkedIn.

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