Marble raises 6.5 million euros to automate compliance for financial institutions

French regtech company Marble has announced on September 29 that it has raised 6.5 million euros from Smartfin, Adnexus, Passion Capital, and 42Capital. This follows an initial seed round of 2.1 million euros that the company concluded in September 2024. Marble has developed an open-source platform to help banks and financial institutions combat fraud and money laundering.

Co-founder Arnaud Schwartz warned that financial institutions that do not adapt will continue to invest increasing budgets and human resources, which detracts from their growth challenges. Founded in 2023 and incubated at Hexa, Marble automates a wide range of compliance-related tasks, including alert detection and analysis, report generation, and automatic customer questioning. The solution can be deployed directly on the infrastructure of its users.

The goal is to facilitate the work of analysts, allowing them to focus on verified alerts and make final decisions, especially regarding account blocking, Schwartz added. Marble claims to have around one hundred clients and aims to exceed 5 million euros in Annual Recurring Revenue (ARR) by 2027. The company plans to enhance its technical integration to attract larger financial institutions, including traditional banks. To support its growth, Marble intends to double its workforce of 13 employees by the end of the year. The funding will enable the startup to invest in its product and accelerate its commercial development.

Reported by Journal du Net.