LONDON–(BUSINESS WIRE)–Gatenoxthe UK provider of verified credentials for corporate customers, has raised a seven-figure amount from C3 venture capital funds, a Frankfurt, Germany-based venture capital firm that invests in outstanding technology companies around the world. Additional funding was provided by A100x Ventures and several prominent angel investors, including Matthew Niemerg and Antoni Zolciak, co-founders of Aleph Zero.
Gatenox is the anti-money laundering and sanctions solution for business integration that starts with the customer. While working in financial institutions from the early 2000s, co-founder Pawel Kuskowski witnessed the challenges faced by growing businesses while complying with increased regulatory requirements. Today, everyone needs to comply with expanding regulations, but not everyone can afford to build a large team and pay for expensive compliance tools. It’s even harder in the world of crypto, where existing solutions don’t fit the bill.
Gatenox was founded in 2022 by Pawel Kuskowski and Wojciech Zatorski. Pawel is the former CEO and Founder of Coinfirm, a leading blockchain forensics company, and former Global Head of AML Function at RBS. Wojciech is a technology and payments veteran, having built Blik, among other businesses.
“Know-Your-Business is a priority for companies operating in the crypto space today. With the challenges of the past few months and the wave of new regulations to come, solutions for simplifying and streamlining credentials at enterprise level will be in high demand,” said Theo Woik, Managing Partner at C3 VC Fund. “Pawel and Wojtek are very experienced entrepreneurs and we are confident in their ability to develop and scale the best SaaS solutions within crypto and beyond.”
According to Bloomberg, large investors with global assets totaling $100 trillion are becoming increasingly curious about crypto, especially since the first half of 2022, as over-leverage and counterparty risk have been pushed out of the crypto space. . Gatenox, with its unique KYB expertise and solutions, ensures that institutional clients and SMEs can seamlessly connect to crypto and reap the benefits of blockchain technology as a new native financial layer.
Gatenox, which focuses on streamlining Know-Your-Business (KYB) processes and sanctions for the crypto market, is uniquely positioned by simplifying and automating the onboarding process for enterprises and SMEs. Gatenox has tested its solutions with well-established crypto companies and will roll out its product suite in Q3 2022.
“Currently, the enterprise integration solution is dramatically neglected. It takes months to integrate crypto exchanges. In many situations, it is impossible for enterprise customers to access and obtain the benefits of DeFi and crypto in general due to the specifics of the market,” said Pawel Kuskowski, CEO of Gatenox. “After the fallout from LUNA, 3AC, Celsius and Voyager, it is inevitable that regulatory scrutiny will intensify for the entire industry. There are also huge benefits for the crypto industry to properly manage its future. counterparty risk.
“We see the enterprise side of the market as the fastest growing aspect of the crypto world,” said Wojciech Zatorski, COO of Gatenox. There are some interesting technology and user experience challenges in the world of AML compliance and institutional cryptographic integration.
Current KYC/AML processes are far from optimal, today they are both expensive and inefficient. With Gatenox, customers only integrate once and reuse their data multiple times, ultimately reducing costs to almost zero per user. Profitability is naturally a strong selling point, but the Gatenox team also seeks to focus intensely on conversion and data ownership.
“Gatenox aims to dramatically improve the user experience for retail and enterprise customers. As infrastructure builders, we seek to provide the Gatenox team with support for Aleph Zero and Liminal privacy enhancement technologies to protect consumer privacy in a secure, yet transparent way. said Antoni Zolciak of AlephZero. “Pawel and Wojciech share over 20 years of combined experience in mobile technology, the financial industry, security and KYC/AML, including crypto compliance, which gives us more than confidence in their abilities to execute. We We are thrilled to watch their journey from a simple idea to software prototype and a completed pre-seed cycle.
“We quite often see clients drop out of the process. In most cases, it is a tedious and boring sequence of steps that one has to perform on any occasion. With Gatenox, we aim to significantly increase the conversion rate and provide customers with an incredible experience,” said Pawel Kuskowski. “We’ve built a platform with instant, frictionless onboarding for 350 million enterprise customers and believe it’s a better solution for the 30,000+ regulated crypto companies and their users. ”
About C3 Management and the C3 VC Fund
C3 Management GmbH is an asset management company focused on managing venture capital funds that invest in outstanding blockchain technology companies around the world. C3’s mission is, among other things, to accelerate the growth, development and above all the adoption of blockchain technology. As part of this mission, C3 manages the C3 VC fund, which is partly funded by Block.one and provides developers and entrepreneurs with the funding they need to build community businesses leveraging crypto and blockchain. . C3 VC Fund focuses on early-stage and growth-stage technology companies. C3 VC Fund operates worldwide and is located in Frankfurt, Germany.
Gatenox is the one-click AML/KYC solution for institutional and individual account opening to start with the client. Gatenox aims to become a go-to enterprise integration identity node for exchanges, fintech companies and banks. For more information, visit gatenox.com.