Sentinels raises €5.7 million seed round led by INKEF Capital.

Sentinels, an Amsterdam, The Netherlands-based startup developing a data monitoring software platform for financial instiitutions, announced the completion of a €5.7 million ($6.9M) seed round.

The money was raised from investors led by the German VC INKEF Capital, and joined by the Dutch angel investors Thijn Lamers and Maikel Lobbezoo.

Proceeds will be used to further build out the product and expand its operations into the UK and beyond Europe, to North America, LatAm and APAC.

Sentinels, founded in 2019 by CEO Joost van Houten as a spin-out from Slimmer AI, a European B2B AI venture studio, developed an AI-based transaction monitoring system, reducing repetitive tasks and workload. The tool optimizes existing anti-money laundering and transaction monitoring processes at the root by generating real-time actionable client insights.

Paying customers include Mollie, Terrapay, Online Payment Platform, Ginger Payments and ManoBank.

Sentinels previously raised €2.7 million.