Copenhagen-based Formalize has raised €30 million in Series B funding to expand its compliance software across Europe. The round was co-led by Acton Capital and BlackFin Tech, with participation from West Hill Capital and CIBC Innovation Banking. Formalize develops a governance, risk, and compliance platform that helps small and mid-sized enterprises manage evolving EU regulations such as GDPR, NIS2, DORA, and ISO 27001. The company plans to use the new funding to deepen its presence in major European markets, particularly in the DACH region and France, and to strengthen its local teams.
Across Europe, companies are navigating an increasingly complex landscape where regulation and risk go hand in hand. New requirements around data protection, cybersecurity, and reporting — such as GDPR, NIS2, DORA, and ISO 27001 — reflect a shift in how organisations are expected to manage information security and resilience. Formalize addresses this with a single platform that automates compliance workflows, consolidates requirements in one place and helps companies stay ahead of regulatory change.
“Compliance is no longer optional; it’s essential for doing business. At Formalize, we’re building a future where automation and AI simplify GRC for European SMBs without ever compromising on security or the local expertise that defines us. Our ability to scale and deliver value to thousands of companies places us at the forefront of Europe’s regulatory landscape,” says Jakob Lilholm, CEO and co-founder of Formalize.
Since its inception, and strengthened by its Series A in 2024, Formalize has evolved into a trusted solution for more than 8,000 organisations and over 850 consultancies and law firms. A strong example of this traction is in Spain, where Formalize has been chosen as the national whistleblowing authority, giving millions of employees a secure channel to speak up.
“This funding round reflects the strong momentum Formalize has built across Europe and the confidence investors have in our execution. We’ve shown that compliance is mission-critical for businesses of all sizes, and this capital allows us to continue scaling with discipline, strengthening our product and expanding our European footprint,” says Formalize CFO, Christian Jessen.
The new funding will enable Formalize to strengthen its position as the go-to compliance operations platform in Europe and scale its presence in key markets such as DACH and France, opening new offices and growing local teams to support customers and partners on the ground.
“It’s increasingly hard for small and mid-sized companies in the EU to handle all the requirements imposed on them by regulation. Formalize has impressed us with a superior solution that allows companies to have all processes and data required fully under control. No other solution we looked at got even close to Formalize’s capability to capture the particularities of all countries and industries while keeping the solution easy to handle.” says Fritz Oidtmann, Managing Partner at Acton Capital.
“At BlackFin, we are more and more convinced that Formalize has assembled the right product and team to own SME compliance in Europe, turning GDPR, NIS2, and DORA into simple, scalable workflows. With stellar growth and AI accelerating adoption, they are in the perfect spot to convert regulatory burden into a competitive advantage.” says Michele Foradori, Managing Director at BlackFin Capital Partners.
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Read the orginal article: https://arcticstartup.com/formalize-raises-e30-million-series-b/
