Pliance to raise SEK 4.3 million from Gorilla Capital and angel investors from Sweden.


Pliance, a Stockholm, Sweden-based SAAS developer of solutions used for anti-money laundering processes, announced completing a SEK 4.3 million ($520k) capital funding round.

The money was raised from the ealy stage investor from Finland Gorilla Capital, joined by angel investors from Sweden Henrik Kallen (formerly with Avanza) and Ronnie Bodinger (Nordnet).

The proceeds will primarily be used to expand geographically and develop the product into more verticals.

Pliance, founded in 2018 by CEO Siam Choudhury, Adam Fürtenbach and Tomas Einarsson, develops software that helps companies automate their anti-money laundering processes. The company's tool is a powerful and flexible API that saves both time and money for businesses by incorporating customer controls into their existing tools and workflows. By using the Pliance API, these companies can focus on their basic business, and grow faster.

Pliance produced SEK 1.5 million ($180k) in revenue in 2020, from customers including Zmarta, Savelend, Safello and Trine

Total investments received (USD): 520k