Bits - a unified compliance platform streamlining onboarding for European fintechs
Bits is a unified compliance platform for Europe, offering onboarding, risk assessment, and monitoring through a single API. It cuts manual work by 70%, enabling fintechs to scale efficiently without building a compliance department.
A friend called me recently with a simple ambition and a painful question: I want to lend to any European company. How do I assess a business in seconds, not weeks?
Fintech of my choice: Bits
Most founders underestimate how much compliance shapes product. Not because they do not care, but because the workflow is fragmented. One vendor for KYC, another for KYB, a third for sanctions, plus spreadsheets and a case queue that grows faster than your team.
Bits is a unified compliance platform for Europe. Onboarding, risk assessment, and continuous monitoring across more than 100 jurisdictions, packaged as one API. KYC, KYB, fraud signals, and sanction checks are all in one place, so a fintech can move without building a mini-compliance department on day one.
The company was founded in 2022 by three people who have lived inside scaled fintech and infrastructure. Jonatan Klintberg (CEO), Fredrik Eriksson (CCO), and Robin Lantz (CPO), with backgrounds from Klarna, AWS, and Tink. That mix matters. You need the reality of consumer and merchant risk at Klarna, the engineering discipline of AWS, and the open-banking plumbing mindset from Tink to build something that works across Europe.
What caught my eye were the concrete outcomes. Clients like Qliro and Alisa Bank reportedly cut manual casework by 70% and made onboarding six times faster. That is not “nice to have.” That is direct unit economics. Fewer human hours per application, faster time to first transaction, and fewer drop-offs when the flow gets slow and messy.
The business logic is straightforward. Bits becomes the compliance layer you plug into your onboarding and monitoring, and you pay for a platform that keeps working as you scale into new markets. The moat is not one more sanction list. It is orchestration across jurisdictions, good risk signals, and case management that helps teams make decisions consistently.
They raised a €12m Series A led by Alstin Capital, with Cherry Ventures and Unusual Ventures participating, and the plan is clear: expand into the UK and DACH, and build AI-driven case management. If AI is used where it should be used, it will not “replace compliance.” It will reduce the boring work and push humans toward the real edge cases, which is exactly where experience matters.
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I like Bits because it respects speed, without pretending risk is optional. If I were launching a lending or B2B payments product across Europe from Portugal, this is the kind of compliance foundation I would want under the hood.
What is the slowest step in your compliance workflow today: KYC, KYB, sanctions, or case management?
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