RegTech startup Apiax raises $6.6m in Series A round
Swiss startup Apiax, which offers digital regulatory compliance, has raised $6.6 million in a Series A funding round.
Apiax was founded to transpose written regulations into binary, machine-readable compliance rules which will enable new digital solutions and products to be “compliant by design”.
The round, led by e.ventures and XAnge, was joined by prior investors including Peter Kurer, DIVentures, Swiss ICT Investor Club (SICTIC), Zürcher Kantonalbank and Tugboat.
Apiax plans to use the funding to accelerate its “global growth plans”, strengthen the development of its product and build up internal staff.
“In recent months, we have created terrific momentum and a basis for international growth. With e.ventures and XAnge, we have found the perfect partners to boost our global expansion plans,” says Nicolas Blanchard, co-founder of Apiax.
Andreas Haug, co-founder and managing partner of e.ventures, adds: “We are impressed by the results Apiax is already delivering and confident that Apiax, with its ‘open compliance platform’ approach, has the best qualifications to establish a comprehensive and highly efficient solution for the fast-growing – but so far highly fragmented – area of compliance.
