Iconicchain builds blockchain-based compliance automation solutions aimed at digitising and automating regulatory processes for financial institutions. Its product suite includes IconicSecurities, which automates the lifecycle of asset-backed securities while continuously evaluating and executing regulatory compliance and filing extracted data and valuations with authorities and investors. The company also offers IconicChainServer, a blockchain-based automation algorithm designed to set up and configure blockchain solutions for financial institutions quickly. Iconicchain says its technology can reduce regulatory compliance costs by 50%. Its offering is used by a number of German and Austrian banks, including Bank für Tirol und Vorarlberg, and the firm recently won a tender from the Hungarian National Bank. The company intends to use the €1 million in new funding to continue international expansion, specifically targeting the UK and German markets, and had previously raised only $65,000.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2021