UK-based RegTech (Regulatory Technology) scaleup eflow Global has raised €8.1 million in capital through a Series A funding round. Led by Finch Capital and supported by Atempo and ScaleUp Group partners, this funding round will help to accelerate eflow’s growth with a particular emphasis on strengthening footholds in North America and Asia-Pacific.
Founded in 2004, eflow Global provides financial firms with software solutions to help them comply with their regulatory requirements. They offer award-winning solutions for market abuse surveillance, transaction-cost analysis, transaction reporting and eComms surveillance.
Ben Parker, CEO and Founder of eflow Global, commented: “Increasing scrutiny from global regulators has made it imperative for investment firms to automate costly and time-consuming regulatory obligations. With a recent move to a 100% cloud model, we felt the time was right for us to take additional investment to accelerate growth and product development plans.”
The company’s emphasis on simplifying compliance procedures while retaining robust security has granted them a reputation as one of the world’s leading RegTech providers. Its solutions are currently used by over 100 financial institutions worldwide including Aegon Asset Management and Plus500.
This most recent injection of capital will fuel an exhaustive period of research and development with the company hoping to release a range of new products and enhanced solutions over the coming two years.
Aman Ghei, Partner at Finch Capital, added: “We are very excited to be partnering with Ben and the team at eflow. There aren’t many profitable and high growth businesses in regulation technology and that is a testament to how well the team has done to deliver best in class SaaS solutions to marquee customers. With our investment, the team will further be able to invest in technology and product development to enable their customers to stay on top of the ever-changing regulatory environment.”
Despite the company’s long history, eflow Global has recently committed to a revitalised growth strategy. After migrating to a 100% cloud-based SaaS model in 2021, eflow Global’s executive team led a successful MBO in 2022, sparking this most recent period of expansion.
Read the orginal article: https://www.eu-startups.com/2023/07/london-based-regtech-eflow-global-secures-e8-1-million-to-help-more-financial-firms-comply-with-regulations/
