A technical read for Smartfin ahead of Marble's €6.5M Series A
Smartfin ran an X-Ray on Marble's product and technology before leading the company's Series A. From kick-off to final reports took two working days, and the assessment confirmed a solid technical foundation with no red flags.
Marble
Marble builds an open-source fraud and compliance (FRAML) platform for banks and fintechs, founded in 2021 by Arnaud Schwartz and Pascal Delange, both former Shine executives. It runs in production at more than 100 institutions in 25+ countries. Smartfin was preparing to lead the Series A and wanted an independent view on whether the product and technology could carry the company's growth plans: scalability for regulated clients, the choice between self-hosted and SaaS deployment, and the role of the open-source edition. In September 2026 Marble announced a €6.5M Series A led by Smartfin, bringing its total funding to €9M.
How it went
Scoping with the investor
A briefing with Smartfin on the investment thesis and the questions the X-Ray had to answer.
Briefing with the company
A 30-minute call with Marble's CTO to agree on scope and access. Access to the repositories was temporary and revocable by Marble.
The X-Ray
An assessment of the codebase and the infrastructure-as-code, benchmarked against more than 300 previous engagements. The scan produced a short list of follow-up questions, which the CTO answered within a day and a half.
Reports and read-out
A summary for Smartfin and a technical report for Marble's team, delivered two working days after kick-off.
“The X-Ray took very little of our time. After a short call and temporary access to our repositories, I answered a focused set of questions, and two days after kick-off Smartfin had the reports, with a useful set of recommendations for our team.”
What the X-Ray showed
- A solid technical foundation, with no red flags.
- A platform on a scalable trajectory, in line with the company's growth plans.
- A team that clearly knows what it is building and why.
- All recommendations could be picked up after the round.
The outcome
- Smartfin had an independent technical read within two working days of kick-off.
- Smartfin went on to lead Marble's €6.5M Series A.
- Marble received a prioritised set of engineering recommendations for after the round.
Marble
Fintech / fraud and compliance
An open-source fraud and compliance (FRAML) platform for banks and fintechs: transaction and customer monitoring, screening, and AI built into alert triage, case investigation and reporting. Deployable fully on-premise or as a managed service.
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