Harmoney, a Ghent-based software provider for Counterparty Risk Management, has announced a strategic minority investment of €10 million from Smile Sail, an evergreen private equity fund focused on European Software and AI leaders.
With this capital, Harmoney plans to deepen its commitment to existing clients, scale its international go-to-market organisation, and invest further in its AI-driven product innovation for Counterparty Risk Management.
Thomas Van Maele, co-founder and CEO of Harmoney, commented, “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.
“As Counterparty Risk Management continues to evolve beyond traditional KYC and AML processes, we are realising the unique opportunity to further scale our platform internationally. Hence, we are excited to bring Smile Sail on board as our new investor on this growth journey as they bring entrepreneurial DNA, deep sector expertise and proven track record of scaling B2B software companies internationally.”
Founded in 2016, Harmoney offers a modular software platform enabling financial institutions and regulated enterprises to orchestrate complex onboarding, compliance and risk workflows across the full client and third-party lifecycle.
The company states that its modular solution enables banks, insurers, wealth managers, investment funds, asset leasing firms and professional service providers to manage complex onboarding and end-to-end compliance and risk processes. These include KYC, AML, MiFID, PEP, UBO, DORA, ESG and Third Party Risk Management (TPRM) across the full counterparty lifecycle and in every jurisdiction.
According to the company, the European compliance landscape is entering a period of structural transformation. It notes that the EU’s new Anti-Money Laundering Regulation (AMLR), effective from 10 July 2027, will create the first unified AML rulebook for all Member States. The European Anti-Money Laundering Authority (AMLA), which has been operational since July 2025, is already preparing the technical standards that will transform how financial institutions perform customer due diligence, verify beneficial ownership, and conduct ongoing monitoring.
Meanwhile, the Digital Operational Resilience Act (DORA), which has been enforceable since January 2025, has extended regulatory responsibilities to include third-party supply chains for the thousands of financial entities it regulates within the EU, says Harmoney.
Against this backdrop, compliance is shifting away from periodic, siloed checks (with separate tools for KYC, AML, MiFID, UBO, ESG and Third Party Risk Management) toward continuous, orchestrated Counterparty Risk Management across the full lifecycle. Harmoney claims to respond to this structural market evolution by expanding its orchestration capabilities across the broader Counterparty Risk Management landscape.
Currently, Harmoney caters to over 70 financial institutions across 7 countries, including Belfius, Baloise and Ayvens, and reportedly monitors millions of counterparties every day.
Ronald Kemmeren, Partner at Smile Sail, said, “Harmoney is the emerging European market leader in Counterparty Risk Management software. The market is moving decisively away from fragmented point solutions toward integrated orchestration platforms. With AMLR, DORA and the broader Counterparty Risk Management agenda accelerating demand across Europe, Harmoney is at the centre of this shift.
“Its software is mission-critical for its blue chip customer base, onboarding and monitoring millions of counterparties each day, and serving as the daily system of record that gives compliance teams a real-time view on their compliance position. Harmoney has strong market momentum and has only scratched the surface of the opportunity ahead.”
Smile Sail invests alongside entrepreneurs and management teams as they scale their companies into Software and AI leaders (SAIL). It invests via an evergreen private equity fund of €275 million, focused on software, AI and IT services companies. Smile Sail is part of the Smile group of funds, with assets under management (AUM) approaching €1 billion. It is exclusively backed by influential families, entrepreneurs and captains of industry.
