RegTech 100 company AQMetrics has reportedly raised €3m in a round of funding in a bid of supporting its European expansion.
The funding was supplied by previous backers Frontline Ventures and Bluff Point, as well as new investor to the company, ACT, according to a report from the Irish Times.
Capital from the round is earmarked for expansion across Europe, and building upon its sales and marketing efforts, it said. Initially, the company is eyeing an office in Paris, and then expand to Luxembourg and Frankfurt.
Ireland-based AQMetrics is an automated risk monitoring and regulatory reporting platform, which is based on a single cloud. Its products are regulated under the Central Bank of Ireland as an authorised data reporting service provider under MiFID II.
The platform delivers data management, risk profiling and monitoring, compliance workflows and reports all in one place.
AQMetrics recently extended its platform to offer the ‘golden source’ of market data to enhance risk analytics. To achieve this, it is looking to partner with a number of global market data providers to extend its risk analytic capabilities.
Earlier in the year, AQMetrics was one of a handful of FinTech companies from Ireland to win recognition on the RegTech 100 list, its second consecutive year of making the 100. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
