Regtech Konsentus closes multi-million-pound pre-Series A round
Mastercard invests in regtech Konsentus
UK-based Software-as-a-Service (Saas) regtech Konsentus has closed a multi-million-pound pre-Series A financing round, reports Jane Connolly.
The company has not disclosed the full financial details of the round, which was led by Mastercard and supported by other investors.
Konsentus provides identity and regulatory checking services to financial institutions to enable PSD2 open banking compliance.
“The regtech market is growing at 45%+ per annum and with 9,000+ financial institutions in Europe that must deliver PSD2 open banking, the demand for the Konsentus service is significant and this investment will support an accelerated growth plan across Europe,” says Konsentus CEO, Mike Woods.
He adds: “With plans to launch new related services later in 2019 and international expansion in due course, we will be pursuing a Series A financing round in late 2019.”
Jim Wadsworth, Mastercard’s SVP of open banking, states that the company sees “significant potential” in the Konsentus service.
