SteelEye, a London, UK-based compliance technology and data analytics company, closed a $21M Series B funding.
The round, which takes total capital raised to $43m, was led by Ten Coves Capital with participation from existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office.
The company intends to use the funds to accelerate its global expansion – with an emphasis on North America.
Led by Matt Smith, CEO, SteelEye provides a SaaS-based RegTech platform that allows banks, brokers, asset managers, and other regulated financial firms to simplify their compliance processes across various EU, UK, and US market regulations. Firms can lock their data in a WORM-compliant vault, identify and stop early warning signs of harmful conduct, and demonstrate that they have watertight policies, procedures, and controls. By connecting large volumes of data from multiple sources, the system enables firms to meet regulatory obligations, gain full visibility and control of their trading and compliance operations, with analytics that provide insights on risks and opportunities.
The company also has offices in New York, Bengaluru (India), and Braga (Portugal).
FinSMEs
08/09/2022