RegTech Startup Mopso Closes €1m Seed Round, Teams Up with Armundia Group

Mopso, a Luxembourg-based RegTech startup specialising in anti-money laundering (AML) and financial crime prevention, has announced that it recently secured a €1 million seed round; separately, Mopso and Armundia Group announced a strategic partnership.

Founded in Milan, Italy in 2021 and now based at the Luxembourg House of Financial Technology (LHoFT), Mopso is set to accelerate its growth and expand its impact in the financial sector. The capital increase was subscribed by Apside, a joint venture by Intesa Sanpaolo and Zest, and the Fin+Tech accelerator programme of CDP Venture Capital, as well as an additional investment from Centro Istruttorie (part of Moltiply Group). The round also saw the participation of several business angels.

Following a "strong domestic market validation" in its initial years of operation, and after being selected by Italy's Fin+Tech Private/Public Venture Accelerator, the company strategically extended its presence to Luxembourg. Mopso secured a place in the country's national accelerator, Fit 4 Start, under the High-Performance Computing (HPC) category.

Over the course of six months, Mopso actively engaged with key players in Luxembourg's financial ecosystem, leading to its incubation at the LHoFT, the company noted in a press release. The company also gained recognition from the Association des Compagnies d'Assurances et de Réassurances (ACA), Luxembourg's professional association of insurers and reinsurers.

In November 2024, Mopso received a grant, together with the Luxembourg Institute of Science and Technology (LIST), from Luxembourg's Ministry of the Economy and the Luxembourg National Research Fund (FNR) under the Joint Call HPC programme. The PAMLA project is reportedly designed to revolutionise AML practices in the financial sector.

"The quality and weight of the investors confirm the value of our project. We are already working to create the right commercial and industrial synergies, we hope to strengthen our research and  development activities with the support of strategic partners. With the Moltiply Group ecosystem, we already see multiple areas for concrete collaboration", said Mopso CEO Andrea Danielli.

"The investment in Mopso is fully aligned with Apside's strategy, which includes among its primary objectives supporting technological solutions that improve the efficiency and security of the  financial sector. The solutions developed by the startup represent a step forward in automating  compliance, simplifying due diligence processes and mitigating risk in an increasingly complex  regulatory environment", commented Enrica David, Senior Director of Shareholdings & Corporate Venture Capital at Intesa Sanpaolo and President of Apside's Investment Committee.

The round, contingent on meeting certain revenue targets, is expected to allow Mopso to expand its commercial activity internationally, targeting additional European markets and to develop new features for its products.

Mopso-Armundia Group partnership

Mopso has also announced a strategic partnership with Armundia Group, a global tech company specialising in ICT solutions for banks, insurers and financial advisors, and which is also based at LHoFT.

The reported goal of this partnership is to combine expertise and key strengths to provide banks, asset managers, investment managers, wealth managers, family offices, insurance companies and intermediaries with integrated end-to-end solutions that streamline onboarding processes, in compliance with AML regulations, and to ensure the Know Your Customer (KYC) process is fully automated and up to date.

The partnership will unfold in the domestic market through the parent company Armundia Group and internationally through the subsidiaries Armundia Luxembourg and Armundia United Kingdom. According to the two firms, the integration of Mopso's data analysis and financial crime prevention technologies with Armundia's digital advisory and wealth management solutions will enable financial operators to strengthen regulatory compliance, enhance customer experience and optimise decision-making processes using "next-generation" tools.

Armundia Group’s solution for the financial industry, Armundia 3SIXTY, is described as a modular framework of AI-based applications and next-generation end-to-end platforms designed to be scalable and easily integrated with existing infrastructures. The solution has been developed for financial and wealth advisory.

"In the current context of the digital transformation of the banking system, it is key to adopt next-generation applications that foster incremental and harmonious innovation of IT infrastructures. Through this approach we enable the entire ecosystem to evolve, improving security, transparency, speed and efficiency with direct benefits for the end customer," stated Gianluca Berghella, CEO of Armundia Group and Armundia United Kingdom, later adding: "We are proud of this partnership and are already working on our first joint projects".

For its part, Mopso has developed two "easily integrable" solutions to "effectively" respond to AML regulations: Brain and Amlet. Brain is a risk assessment tool that helps banks and financial institutions identify suspicious transactions and high-risk clients using semantic web technologies. Amlet enables customer due diligence data to be portable and reusable within an ecosystem of intermediaries, transforming them into verifiable credentials.

"The analysis of digital onboarding processes and the identification of the necessary control measures to ensure compliance with AML regulations are crucial in a context where technological evolution accelerates the creation of new products, while the speed of transactions and the depersonalisation of the customer-institution relationship increase the risk of money laundering and corrupt practices," said CEO Andrea Danielli. "The seamless integration with Armundia Group's next-generation platforms offers a winning solution to our clients and enables them to tackle current challenges with highly advanced and effective tools".

"In the context of Luxembourg, adopting high-security standards is an essential requirement, now more than ever. In a market regulated by strict standards, ensuring maximum compliance not only protects the trust of investors and institutions but also strengthens Luxembourg's role as a leading financial hub in Europe and globally," concluded Paolo Maceratesi, CEO of Armundia Luxembourg.