Behavox gets VC backing for RegTech compliance

London-based startup Behavox, a provider of compliance surveillance software, has raised Series A funding from venture capital investors.

Hoxton Ventures and Promus Ventures were among the backers of the undisclosed financing round.

Behavox plans to use the new capital to enter the American market, starting off from New York and gradually expanding across the US.

The company, launched by CEO and founder Erkin Adylov in 2014, provides solutions for compliance officers and forensics teams at banks, brokerage houses, commodities traders and asset managers. The software helps detect cases of market abuse, fraud, collusion, sensitive and reckless behaviour, and other breaches.

Working from offices in London and St Petersburg, Behavox has raised $1.4m in two previous funding rounds.

Copyright © 2016 FINTECH GLOBAL

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