This quarter, Smartfin has led two major funding rounds in the security space: a Series A for Marble and a Series B for Hadrian.
In the first week of October, Smartfin announced it is co-leading a $40 million Series B funding round for Hadrian – alongside Forgepoint Capital International and with participation from existing investors, including HV Capital, Motive Partners, Picus Capital and Oetker Ventures. This round brings the company’s total capital to $65 million and will fund its further expansion across the rest of Europe and the United States.
A week earlier (29 September 2026), Smartfin also announced that it was leading the €6.5 million Series A round for Marble, a fintech developing an open-source platform for fraud detection and anti-money laundering compliance. Adnexus joined as a new investor, with existing investors Passion Capital, 42CAP and Hexa also continuing their support. “The real question is no longer whether compliance gets automated, but who builds the system it runs on,” Saumitra points out.
Both Hadrian and Marble represent a shift away from manual, reactive processes and towards continuous, agentic automation. By backing founders who possess a deep, insider understanding of the very problems they are solving, Smartfin is betting on the people fundamentally rebuilding how organisations defend themselves.
Backing the builders
For Smartfin partner, Saumitra Dubey, the Hadrian investment is special: “I’ve had the privilege of watching Rogier Fischer build Hadrian into an agentic offensive security platform since the early days, and that conviction has only deepened,” he says.
Rogier and co-founder Olivier Beg started out as ethical, teenage hackers and turned that instinct into an enterprise-grade product that’s beating cybersecurity incumbents. “We have been working with LLMs since before they went mainstream, and we know that AI can work much faster than any human offensive security team. So we built a platform that emulates hackers’ attack paths, helping our customers to understand their key risks and prioritise their security resources appropriately,” explains Rogier.
That same rare combination of domain expertise and technical ambition is precisely what attracted Smartfin to Marble, too. Just as Hadrian's founders are re-engineering cybersecurity from a hacker's perspective, Marble’s co-founders Arnaud Schwartz and Pascal Delange are building a structurally differentiated operating system for financial crime compliance. “For most banks and fintechs, FRAML work has quietly become a tax on growth – swallowing the headcount, budget and hours that should fuel the business,” explains Arnaud, emphasising: “You cannot out-hire financial crime. So we're going to out-build it”.
Pascal adds that the market is fatigued by "empty promises" of black-box solutions, and that Marble is instead giving compliance teams a modern, enterprise-ready solution to truly reduce false positives.
This shared ethos of "out-building" the threat landscape is evident in both platforms' technology. Hadrian’s AI-native offensive security platform brings together Atlas, which continuously maps an organisation’s attack surface, and Nova, which runs agentic penetration tests against it.
“In a world where AI is arming attackers and every cloud spin-up widens the gap between what enterprises own and what they can actually manage, ‘the AI that hacks you should be on your side’. That clever thinking has become a deeply technical, category-defining product,” Saumitra says, adding that Hadrian’s growing enterprise contract values, global customer base and exceptional enterprise retention rates demonstrate both the strength of its product and the team’s ability to execute and win against large competitors since launching in 2021.
The Marble team
When conviction meets execution, you “lean in”
Both companies have scaled significantly on the back of their teams’ technical foundations. “I spent our first three years as CFO asking everyone to spend less. I now run partnerships and ask everyone to spend more,” Hadrian co-founder Maurice Clin points out, noting how much they’ve grown since launching in 2021. Today, Hadrian’s team consists of more than 80 offensive security, engineering and go-to-market experts and it serves Fortune 500 organisations and global enterprises, including McKesson, NBCUniversal, Francisco Partners, TotalEnergies, Amadeus, Leroy Merlin and Damen Shipyards.
Likewise, Marble's execution is winning over the market. More than 100 banks and fintechs across over 25 countries are actively running Marble in production.
For investors, this execution is the ultimate proof point. As Will Orde, Partner at Passion Capital, noted: “The simplest reason to double down on a team: they do exactly what they said they would... That's conviction meeting execution, and when you see it, you lean in”.
Forgepoint Capital International managing director and partner Damien Henault echoes this, noting that both the Hadrian team and the company’s growth have made it a natural choice to back. He has been following the company’s journey closely since first hearing about its “fresh approach to offensive security” from customers and investors.
“When I met the team in 2024, the founders’ rare combination of technical depth and entrepreneurial experience stood out immediately,” Damien recalls in a blog post. “As investors in cyber and AI, our team at Forgepoint has evaluated many AI-powered offensive security tools entering the market. Hadrian is the clear standout: we haven’t seen another solution that combines this breadth and depth in a single platform.”
The company’s impact in attack surface management and exposure validation has also earned it recognition from market analyst firms including GigaOm, Gartner and Frost & Sullivan.
