Regtech ClauseMatch closes $2.5m venture debt funding with SVB
UK compliance firm ClauseMatch is aiming for continued growth in Europe and Asia after securing a $2.5 million venture debt funding package with Silicon Valley Bank (SVB), reports Jane Connolly.
“Our ambition is to create a world where compliance is transparent”
The 2014 TechStarsBarclays Accelerator graduate helps companies navigate complex regulatory environments by automating compliance workflows across thousands of documents used by multiple departments, to demonstrate compliance and create a comprehensive audit trail.
London-based ClauseMatch recently set up a base in Singapore to serve clients in the South East Asia region.
“Our ambition is to create a world where compliance is transparent and viewed as a business enabler rather than a hindrance,” says CEO and founder, Evgeny Likhoded. “Our clients being global means that we already have a presence in many regions across the world. The funding received from Silicon Valley Bank will help us deliver our solution to financial institutions that are headquartered in Europe, Asia and the US.”
ClauseMatch’s approach, which uses machine learning to standardise and automate processes and workflows across teams, has attracted major financial institutions including Barclays and Revolut.
