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Stockholm-based Bits has raised €12 million in Series A funding to enhance automation in compliance and onboarding for FinTech firms and banks, led by Alstin Capital. The investment aims to unify anti-money laundering and fraud workflows, reducing manual case handling by 50-70% and expediting onboarding times, while expanding data coverage across Europe. Bits plans to scale its market presence, focusing on the DACH region and the UK amid increasing regulatory scrutiny.