Marble raises €6.5M Series A to make fraud and AML compliance programmable for banks

Marble (Paris) has raised €6.5 million in a Series A led by Smartfin, with participation from ADNEXUS, Passion Capital, 42Capital, Hexa, and TSIC. The round brings Marble's total funding to €9 million. The company builds an open-source, no-code platform for fraud detection and anti-money laundering compliance — the combined function the industry calls FRAML.

What Marble does

Marble gives compliance and risk teams at banks and fintechs a tool to build, test, and deploy their own transaction monitoring rules without writing code or waiting for a vendor or an IT team. The platform covers the full FRAML workflow: real-time transaction monitoring against custom rule sets, sanctions and watchlist screening, investigation and case management, customer risk scoring, and A/B testing of monitoring rules on live data.

It can be deployed on-premises or as SaaS. The open-source core is a deliberate architectural choice: it allows compliance officers, auditors, and regulators to inspect how decisions are reached — a requirement that is becoming structurally important as European supervisors press for explainability in financial crime systems.

The company states that more than 100 institutions across 25+ countries are running Marble in production, processing over 3 billion transactions annually, and that Marble reduces manual review work by approximately 90%. Roughly 70% of customers are outside France, and roughly 70% chose Marble to replace an existing solution — the second figure suggesting low greenfield risk.

Paris-born, building for mid-market banks globally

Co-founders Arnaud Schwartz and Pascal Delange were both executives at Shine, the French fintech acquired by Société Générale, where they ran FRAML compliance from the inside. The founding logic is practitioner-derived: existing compliance tools add workflow layers without removing manual effort, and the regulatory bar is only rising.

Saumitra Dubey, Partner at Smartfin, framed the investment thesis as follows: "Marble makes automation the default, on the customer's own infrastructure. Our conviction is that Marble becomes the structurally differentiated, modern financial crime operating system for mid-market banks and fintechs."

The Series A capital will fund three priorities: embedding AI into rule generation and alert triage, accelerating on-premises deployment at banks (which requires integrating with existing data infrastructure rather than months of data transformation), and developing what Marble calls agentic compliance — AI agents that operate only on the data they are permitted to use, which addresses the data governance constraints that stop most AI deployments at regulated institutions.

The target is more than €5 million in annual recurring revenue by 2027.