CIBC Innovation Banking has extended a growth financing package to Formalize, a Copenhagen-based compliance software company, as part of its €30 million Series B funding round. The new capital will accelerate Formalize’s expansion across Europe, particularly in Germany, Austria, Switzerland (DACH region), and France, where it plans to open new offices and scale its local teams.
Formalize offers an integrated platform that automates compliance workflows, consolidates regulatory requirements, and helps SMEs stay up to date with evolving EU regulations. With over 8,000 organizations and 850 consultancies and law firms already using its platform, the company continues to strengthen its leadership in the compliance operations space.
CEO and co-founder Jakob Lilholm emphasized that compliance has become “essential for doing business,” noting the company’s mission to leverage AI and automation to simplify governance, risk, and compliance (GRC) for European SMBs.
Charlotte Goggin, Director at CIBC Innovation Banking, highlighted that the investment aligns with their commitment to supporting innovative firms addressing complex regulatory challenges, praising Formalize for its role in helping businesses stay compliant efficiently.
