Harmoney raises €10m to boost AI compliance tools

By Parth Prabhudesai

Harmoney has secured a €10 million strategic minority investment from Smile Sail as the company looks to strengthen its compliance technology platform and expand internationally.

The funding will support product development, international expansion, and the acceleration of AI-driven capabilities within counterparty risk management. Harmoney said the investment will also help deepen support for its existing customer base across Europe.

The deal comes as financial institutions across the European Union prepare for major regulatory changes, including the implementation of the EU’s Anti-Money Laundering Regulation in 2027 and the growing operational scope of the European Anti-Money Laundering Authority. At the same time, the Digital Operational Resilience Act (DORA) is increasing compliance responsibilities across third-party supply chains.

Harmoney’s platform helps financial institutions manage onboarding, compliance, and risk workflows across the customer and third-party lifecycle. The software supports areas including KYC, AML, PEP screening, beneficial ownership verification, ESG compliance, and third-party risk management. The platform is currently used by more than 70 financial institutions across seven countries, including Belfius, Baloise, and Ayvens.

Thomas Van Maele, Chief Executive Officer and Co-founder of Harmoney, said the company was founded to reduce the operational burden of compliance and risk management.

“We founded Harmoney to take the burden out of compliance and risk management processes, so that our clients can focus on what truly matters: building trusted relationships with their customers and counterparties,” Van Maele said.

The investment reflects broader industry demand for continuous and integrated compliance management systems as financial institutions move away from fragmented regulatory processes toward unified risk orchestration platforms.