US regtech Droit lands $23m Series B funding
US regtech firm Droit has secured $23 million in a Series B funding round led by Pivot Investment Partners and UBS via its venture arm UBS Next. Existing investor Goldman Sachs also took part in the round.
Droit raises $23m Series B
Founded in 2012, Droit’s tech is used by financial services firms to keep up with global regulatory compliance requirements in the capital markets space.
It claims some of the world’s largest financial institutions utilise its Adept platform for pre- and post-trade decision-making, adding the offering can evaluate “the full regulatory implications of any given interaction within their transactional infrastructure” in real time.
Over the last two years, Droit has increased its headcount by “nearly 70%” and expanded into Singapore to support new and existing clients in the region.
Droit will use the new cash to fund its foray into wealth management by developing new products for the space. The company also plans to further develop its existing products, adding features including position reporting, transaction reporting and new cloud-based services.
“We believe Droit’s capabilities will help companies unlock potential revenue streams by simplifying and driving real-time regulatory compliance,” says Mike Dargan, chief digital and information officer at UBS.
