Micapass raised €170K from the Lithuanian innovation lab SUPER HOW?

Lithuanian reg-tech for crypto markets Micapass raised €170K from Vilnius-based innovation lab SUPER HOW? The investment was a part of the €240K round, in which Lithuanian accelerator Firstpick VC also participated. Firtspick announced its €70K investment in Micapass during the pitch battle at the Lithuanian startup ecosystem event Startup Fair 2023. In addition, Firtspick selected Micapass for its third acceleration program. 

Launched in Vilnius in 2023 by Gintarė Košubienė, Tatiana Afonina, and Justas Rožėnas, Micapass develops an automated money laundering detection tool aimed at participants in decentralized crypto markets. The startup's solution provides ongoing anti-money laundering screening and monitoring, meaning verifying identities, monitoring transactions, etc. It can be integrated with any DeFi protocol and allows users to remain anonymous. 

According to the startup, regulation in the crypto asset market is inevitable.  For instance, MiCA regulation, which is focused on public offers of crypto-assets, including asset-reference tokens and e-money tokens, is going to come into force in the European Union. The regulation will cover transparency, disclosure, authorization, and supervision of crypto transactions. Thus, the company believes that compliance and anti-money laundering tools will become a necessity for the crypto assets market.

Founded in 2018 by Vytautas Kašėta, Andrius Bartminas, Evaldas Bružė, and Linas Būtėnas, SUPER HOW? is a research and development company that has expertise in blockchain, AI and central bank digital currency (CBDC) related projects. In 2021, SUPER HOW? invested in Lithuanian fintech Axiology, a tokenized securities depository (TSD), based on blockchain technology.