As RegTech Analyst begins the search for the 100 most innovative RegTech companies in the world right now, we check-in to see how the ones on last year’s list are doing.
Back in November 2018, RegTech Analyst revealed which 100 companies in the RegTech sector you should keep an eye out for over the next 12 months. The enterprises were handpicked by a panel of analysts and industry experts from a long list of 824 businesses, up from 416 applicants in 2017.
Now as the search for the third annual list begins, we look back at how the year has treated the 100 companies.
Investmentwise, it has been a good year for the companies on the RegTech 100 2019 list. In total, the 17 companies that have raised money in the last year have closed investment deals worth more than $260m since being named as one of the 100 most innovative ventures in the industry by RegTech Analyst.
One of them was kompany, the Austrian RegTech company providing real-time access to official and audit-proof commercial register information. “Being listed as one of the top 100 RegTech companies worldwide has helped us raise our profile both amongst potential customers as well as investors,” says Russell Perry, co-founder and CEO of kompany. “Since last year’s ranking we have been able to significantly increase our market traction and become the top provider for global business verification and business KYC information.”
Indeed, kompany closed a new venture deal in the beginning of August. The deal was supported by Elevator Ventures, Raiffeisen Bank International´s (RBI) venture capital arm, and UNIQA Ventures, the VC firm.
But it is not the only business on the list to raise significant investments over the past year. For instance, ComplyAdvantage, the artificial intelligence-powered compliance enterprise, raised $30m in a Series B funding round in January. That was on top of its $8.2m Series A round raised in 2016. ComplyAdvantage also expanded its anti-money laundering and compliance offerings more into the US by opening a New York office in August.
Similarly, Payfone, a digital identity authentication solutions business, was another company that impressed the panel of judges last year. Having rounded of November last 2018 by not only claiming a position on the RegTech 100 2019 list, it also announced that it was looking to offer its services in 35 new countries during this year. Payfone backed up its bullishness in April 2019 by closing a $24m funding round.
Irish startup Fenergo raised €66m in July after a year that saw it sign a partnership with Refinitiv to help the financial market date company better identify risk, launched new anti-money laundering tools and announced an expansion into the Middle East and Africa.
And the companies on the RegTech 100 2019 list did not just close big round. Axioma is a provider of enterprise risk management, portfolio construction, and risk and regulatory reporting solutions and APIs. The company revealed in April 2019 that it was set to be acquired by German stock exchange operator Deutsche Börse in a $850m deal. The same deal also saw global equity firm General Atlantic become a minority investor.
Other high-profile acquisitions include the Irish data analytics company Corvil that was bought by Pico, an American business, in July 2019 for an undisclosed amount.
The nominations for RegTech 100 2020 are open now.
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