Accelerator Frankfurt Newsletter
Latest News
Finnish, German, UK based investor group providing Seed investment for Nordic cryptocurrency Anti-Money-Laundry (AML) outfit Valega Chain Analytics
On July 15, numerous Twitter accounts belonging to high-profile figures like Bill Gates, Elon Musk and Barack Obama were hacked, with the perpetrators using them to promote a Bitcoin scam. On July 17 an article on Forbes.com laid out how Valega Chain Analytics just hours after the scam became known could analyze the Bitcoin transactions originating from one Binance address (= Bitcoin account), cascading through a spiderweb of transfers involving other addresses and exchanges to finally try to launder those Bitcoin through e.g. gambling companies. Kauppalehti, a major Finnish business news outlet reported on the incident and the swift action by this young Finnish Start-up two days later. A whole week later, on July 25, the well-known German news brand Zeit Online ran an article on fraud and money laundry forensics on the Bitcoin network and reported from a discussion with the CEO of a UK based competitor and major player in the cryptocurrency Anti-Money-Laundry (AML) business that investigations are still ongoing.
Valega Chain Analytics’ co-founders Sven Martinsson (SWE/BRA) and Jonathan Pallares (SWE) have started to work on monitoring Bitcoin transactions and classifying addresses approximately two years ago. The Helsinki based company and its AML services are thus based on a rather comprehensive foundation that reaches back to the very first Bitcoin transactions. “We entered the virtual currency sphere during the ICO craze and quickly realized that there were a lot of scams and illicit activities happening leading to distrust from financial institutions, regulators and the general public. This is when we decided to pivot our business and create a compliance platform to safeguard those who transact on blockchains as well as provide the means of investigating illicit activities.” – Sven Martinsson, Founder & CEO .
Ram Shoham heading the Accelerator Frankfurt program in which Valega Chain Analytics was part of the Spring 2020 batch sees that “the Valega team is one of the strongest teams we have seen since founding the accelerator. Combined with the right market timing, Valega’s technology will prove to be a breakthrough solution for mass adoption of virtual assets with proper regulation and transparency”. An investor consortium led by Accelerator Frankfurt and the Finnish Business Angel Network (FiBAN) was well convinced, and actually over-subscribed, closed on September 10th with the company a seed round with an investment of 300k EUR. Special thanks for Mikko Rieger for leading the FIBAN syndicate.
| How to motivate yourself to change your behaviour
Our Co-Founder Maria wrote a highly interesting blog post about how to motivate yourself to change your behaviour. She shares her experience with overcoming her writer’s block, as well as improving her golf skills significantly by adapting behaviour. She also talks about her latest startup project. Go check it out and collect some incentives to improve your own behaviour, too:
https://www.mariapennanen.com/post/how-to-motivate-yourself-to-change-your-behaviour
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| daily.dev: Discover Dev News with zero effort!
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AcceleratorFrankfurt is honoured to announce our partnership with Hong Kong FinTech Week 2020 from November 2-6 2020!
Experience Asia’s global FinTech conference in a virtual event like no other, joining thousands of FinTech entrepreneurs, investors, regulators and visionaries from over 70 economies. This year HKFTW20 is bringing you speakers discussing the latest trends and developments in the FinTech landscape; and many more exciting opportunities.
With our discount code ACCFF15, you enjoy 15% off your Tickets to HK FinTech Week! So take your opportunity and register now: https://www.fintechweek.hk/tickets
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We are excited to announce our partnership with Surecomp, the market leader in global trade finance solutions for banks and corporations, towards their global hackathon!
The hackathon will be held on September 14th-16th, 48 hours with global teams which are mentored by Surecomp’s experts and teams from trade finance banks will search for new business opportunity and solve challenges that banks have in their trade finance department. It is a great opportunity for Surecomp, as well as for the Accelerator Frankfurt, to increase brand awareness and to create base for further collaborations.
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We believe that change in business can only happen with passionate people. We attract those people and help them grow.
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