London-based RegTech company ClauseMatch picks up £1.25m in a seed round from Austrian early-stage venture capital fund Speedinvest.
The company is a SaaS-based platform that helps banks and financial institutions with smart document management. Through the platform banks will be able to manage all of its global policies and standards efficiently and cost effectively, and also keeping a clear audit trail.
With this funding, ClauseMatch hopes to advance its platform’s technology as well as expanding globally.
This investment marks the company’s first funding from a large venture capital firm, with the firm looking to raise a Series A, according to the company. SparkLabs Global Ventures and TechStars, alongside several Angel’s, have already invested in ClauseMatch.
Speedinvest CEO and founder Oliver Holle said, “ClauseMatch is one of the exciting RegTech companies which have a great product and a vivid potential to replace the outdated practices by bringing compliance ecosystem to a completely new level of efficiency.”
Earlier this year the company launched a platform for streamlining policy management at Barclays. ClauseMatch also made a partnership with JWG RegDelta to automate analysis of regulatory changes on internal governance within banks.
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