Accelerator Frankfurt alumni Valega Chain Analytics gets a seed investment from a Finnish, German, UK based investor group
Ram Shoham heading the Accelerator Frankfurt program in which Valega Chain Analytics was part of the Spring 2020 batch sees that “the Valega team is one of the strongest teams we have seen since founding the accelerator. Combined with the right market timing, Valega’s technology will prove to be a breakthrough solution for mass adoption of virtual assets with proper regulation and transparency”. An investor consortium led by Accelerator Frankfurt and the Finnish Business Angel Network (FiBAN) was well convinced, and actually over-subscribed, closed on September 10th with the company a seed round with an investment of 300k EUR. Special thanks for Mikko Rieger for leading the FIBAN syndicate.
Valega Chain Analytics’ co-founders Sven Martinsson (SWE/BRA) and Jonathan Pallares (SWE) have started to work on monitoring Bitcoin transactions and classifying addresses approximately two years ago. The Helsinki based company and its AML services are thus based on a rather comprehensive foundation that reaches back to the very first Bitcoin transactions.
“We entered the virtual currency sphere during the ICO craze and quickly realized that there were a lot of scams and illicit activities happening leading to distrust from financial institutions, regulators and the general public. This is when we decided to pivot our business and create a compliance platform to safeguard those who transact on blockchains as well as provide the means of investigating illicit activities.” — Sven Martinsson, Founder & CEO .