RegTech startup Alyne has raised €3 million in a Series A financing round led by Alstin Capital, with participation from Hannover Digital Investments.

The investment bring Alyne’s total funding to a total of €4.2 million and will be used to scale its operations and expand its customer base. The startup already counts among its customers the likes of Barclays, Deloitte, Allianz and Solarisbank.

Alyne’s Governance Risk Compliance (GRC) platform is looking to revolutionise the way organisations develop their cyber security, data privacy, risk management and compliance capabilities.

Founded by Karl Viertel, Stefan Sulistyo, Manuel Reil and Matthias Danner in 2015, Alyne is headquartered in Munich, with offices in London and Melbourne.

Chief executive Viertel said the investments will help meet product demand. “Having investors of this stature on board gives us access to a wealth of expertise strategy, operations and innovation that will prove invaluable as Alyne enters the next stage of growth.”

Carsten Maschmeyer, managing partner of Alstin Capital, said: “Alyne’s innovative technology and unique model represents the first scalable digital solution in a sector that is extremely ripe for disruption.

“In addition to capital, we will provide Alyne with support in sales, marketing, and strategy to take their business to the next level,” he added.

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