Trapets was acquired by Monterro

Sweden Secondary 03 June 2020
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Trapets AB, a Stockholm, Sweden-based developer of a SaaS platform to combat financial crime and aid regulatory compliance, announced getting into a financial agreement for adding the Swedish investor Monterro as shareholder in the company.

The deal was made for a 70% equity package in the company valuing the company at SEK 320M ($35M).

The funding will be used for product development, organizational growth and expansion outside the Nordics.

Trapets AB, founded in 2000 by Andreas Werner and Gunnar Wexell and CEO Dan Sjöholm, provides a RegTech (Regulatory Compliance) SaaS solution to the global financial sector to prevent financial crimes and to assure regulatory compliance. The company simplifies advanced monitoring in their customers’ daily operations—from initial and ongoing Know Your Customer compliance, to surveillance for anti money laundering, terror financing and fraud. Trapets also provides market and trading surveillance including detection of insider trading and marketing manipulation.

In 2019, the company had sales of approximately SEK 56 million ($6M).