Roaring adds strategic investment from SEB Ventures.

Roaring, a Stockholm, Sweden-based software as a service provider of customer data management, announced getting into an investment agreement for adding SEB Ventures as investors in the company.

The company is valued at SEK 293 million ($34M), and the investment will make SEB one of the company’s larger institutional investors.

The agreement is part of a larger deal that follows a period of testing and implementation of Roaring’s technology into SEB’s innovation studio SEBx, a strategic initiative focused on exploring new technologies and future customer offerings. Roaring is currently powering parts of the onboarding and monitoring processes for SEBx’s first product UNQUO, a financial service developed to make life as a solopreneur easier.

Roaring, founded in 2016 and led by CEO Pål Ljungberger, provides digital services to companies in all sectors with a need to automate customer data processes and know-your-customer (KYC) checks. Roaring offers services in areas as automated anti-money laundering (AML) monitoring as it built a high-quality technical solution to ensure a smooth customer onboarding process, which reduces time-consuming manual work for a growing group of reputable customers.

Roaring is serving some of the most established brands within the banking, finance and insurance industries. It previously raised funding in a round backed by Nordstjernan in March 2021 and SEK 6M from Collector Ventures, Almi and angel investors in 2018.