Notabene Secures $14.5 Million Series B to Enhance Crypto AML Compliance

Notabene, a rising force in cryptocurrency compliance, recently raised $14.5 million in Series B funding, led by DRW Venture Capital. Notable investors, including Apollo, Nextblock, ParaFi Capital, and Wintermute, participated in the funding round. Notabene focuses on helping cryptocurrency companies align with anti-money laundering (AML) requirements and the Financial Action Task Force (FATF) guidelines, specifically the “Travel Rule.” This rule mandates that crypto firms securely exchange sender and receiver information for transactions, bringing crypto operations closer to traditional finance standards.

The company has already built a substantial user base, with over 165 virtual asset service providers (VASPs) on its platform. This network includes major names like Copper, OKX, and Ramp, positioning Notabene as a potential “SWIFT for crypto transactions.” According to CEO Pelle Braendgaard, Notabene currently processes an average of $2 billion in daily transactions, a figure expected to grow as Europe’s updated Transfer of Funds Regulation (TFR) compliance deadline approaches.

Global Push for Compliance

Braendgaard highlighted the growing urgency for AML compliance in crypto, especially as EU regulations intensify. “EU companies will have to report if they’re not getting travel information from, say, a large, unregulated offshore exchange,” Braendgaard explained. He emphasized that European rules are setting the standard globally, compelling firms worldwide to adopt these measures.

Braendgaard also anticipates regulatory momentum in the U.S., especially under the Trump-led administration, which he believes will advance travel rule guidance dynamically. “If you look at what the European Commission is doing with the TFR and MiCA [the Markets in Crypto Assets regime], they want all the crypto trading to happen in the EU,” he noted. He expects the U.S. to adopt a similar approach, aiming to keep crypto trading within its borders and reduce reliance on offshore exchanges.

This recent funding round also saw contributions from several returning investors, including CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator. The influx of new and returning investors signals strong confidence in Notabene’s compliance solutions and its potential to shape the future of crypto AML.