The new funding will be used to expand the Copenhagen-based company’s AI platform for banks and fintech companies, and accelerate adoption across financial institutions globally.
Danish financial compliance AI start-up Spektr has raised $20m in a Series A funding round led by New Enterprise Associates (NEA) with participation from existing investors including Northzone, Seedcamp and PSV Tech.
The new funding will be used to expand the Copenhagen-based company’s AI platform for banks and fintech companies, and accelerate adoption across financial institutions globally, according to the company.
According to Spektr, its specialised AI agents are designed to perform the work financial analysts typically do during compliance reviews – such as researching companies, interpreting information, verifying business activity and generating structured risk assessments – and instead of analysts spending hours gathering and interpreting data, the agents complete the work in minutes so compliance teams can review and approve the results.
“Compliance technology has mostly focused on workflow and data collection,” said Mikkel Skarnager, CEO and co-founder of Spektr.
“But the real bottleneck has always been the work itself – analysts researching companies, interpreting information and documenting decisions. Spektr automates those tasks with AI agents designed specifically for KYC and KYB compliance.”
Spektr was co-founded by Skarnager, CTO Ciprian Florescu, CRO Jan-Erik Wagner and CPO Jeremy Joly. Its live customers include Santander Leasing, Pleo, Mercuryo, Monta and Phantom.
“Financial institutions are under constant pressure to do more compliance work with fewer resources,” said Luke Pappas, partner at NEA.
“Spektr is tackling the most manual part of compliance operations in financial services. Their approach has the potential to redefine how compliance operations are run.”
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