Who can keep up with money laundering?
Ticket size
€ 1,000,000
Business model
B2B Compliance SaaS
Founded
2017
Total funding
€ 4,4m
Biggest market
Denmark
HQ
Copenhagen
Employees
10-20
ARR
€ 0,5 - 3m
Christian Visti Larsen
Founder
1 company
Background
Danske Bank, Beeptify, Coinify, KPMG
Role
Founder
One business that will never remain the same? Money laundering, terrorism and fraud. This is no longer a burden limited to banks, but regulators are holding VC’s, PE firms, law firms, even sports clubs feet to the fire. Enter MEO, the “you’ve done enough” software.
Ticket size
€ 1,000,000
Business model
B2B Compliance SaaS
Founded
2017
Total funding
€ 4.4m
Biggest market
Denmark
HQ
Copenhagen
Employees
10-20
ARR
€ 0,5 - 3m
Christian Visti Larsen
Founder
1 company
Background
Danske Bank, Beeptify, Coinify, KPMG
Role
Founder
A powerhouse in document verification
Know thy customer – has become a key responsibility for everyone involved in big transactions. The process of verifying identifications and documents where legitimacy matters - is still largely done via mail, through screenshots and pdf’s. In other words, a process very vulnerable to manipulation. MEO’s platform is designed to create official third party verification of these documents, so when regulators come knocking, clients will be compliant by default.
Are you interested in the MEO platform? Let us put you in touch through the mail link below and get we will make sure you get a good deal.
identities scanned daily
65k
Countries supported
200
verifiable companies
430m
The virtuous cycle of MEO
When MEO enters a new market, they focus on landing big players in the transaction ecosystem (VC’s, PE firms, Law firms). Once onboarded, the clients start to onboard their clients to the platform as part of the KYC process.
Platform usage translates to instant compliance and onboarding partners translates to transaction speed. Both resulting in very capital efficient growth and high retention (90%+). It’s the kind of product-led growth seen at Slack or Dropbox, where widespread adoption takes place without a single sales call.
Security concerns is growing into a billion dollar industry
The identity verification market is a multi billion-dollars opportunity valued at $13.19B in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 12.64% until 2030. This is a result of increasing sanctions and EU regulations, giving birth to new types of money laundering schemes and new targets. Inability to keep up with both of these progressions is where companies like MEO come in. “What we sell essentially – is the reassurance that you won’t get slapped in the face”, says Christian Visti Larsen. “That’s far stickier than mere convenience.”
Meo’s four pilar capital strategy
1. You want several capital sources and competition between them. Without it you are left vulnerable.
2. As soon as you have revenue, take on lending. As a founder it lets you keep ownership, and it forces you to run the 1:1 calculations of your growth engine.
3. When capital is expensive, we make sure we get extra the right value add for your stage.
4. Use equity for speed, and loans to remain in control.
Capital injection to conquer DACH region
In early 2024, +90% of MEO’s revenue base came from Denmark and Sweden. The rest is split between Finland, the UK and Germany, where MEO have clients but no boots on the ground.
Entering a new market will always come with some investments, in MEO’s case it’s adapting to the local approach to EU regulation. MEO expects their product-market-fit to increase as they move down into Germany and the DACH region, as compliance is highly prioritised and digitalised processes are lagging.
“
Gilion is the new strong funding source
To ensure you’re in a position of power as a founder, you need to have several strong sources of capital. You want competition, it allows you to control timing and terms. Gilion is the new strong debt actor on the Danish market, and a third strong leg next to Vaekstfonden and Scale Capital.