Corlytics has recently announced a major investment from Verdane, a specialist growth investor known for creating category leaders.
Verdane, boasting €6.9bn in committed capital, has taken a majority equity stake in Corlytics, marking a strategic move to bolster the RegTech company’s growth trajectory.
The investment has been facilitated through Verdane’s €1.1bn Edda III Fund, designating Corlytics as a pivotal player in the RegTech industry and a significant consolidator within the sector. This collaboration aims to harness Verdane’s two decades of experience in partnering with European software companies and its deep RegTech expertise to propel Corlytics’ expansion.
Corlytics operates at the forefront of regulatory technology, providing an integrated solution for financial services firms to navigate the complex landscape of regulatory demands. The company’s unique platform offers comprehensive coverage from regulatory horizon scanning and policy management to attestation, enhanced by generative AI technologies and direct links to international regulators. Corlytics stands out as the sole provider of a complete end-to-end compliance solution that anticipates and meets evolving regulatory requirements.
The company plans to utilise this new round of funding to continue its significant investment in innovation, particularly in the development of next-generation AI and machine learning technologies. These advancements aim to revolutionise how firms manage regulatory content, moving beyond traditional approaches to a more intelligent and integrated strategy.
Corlytics has witnessed remarkable growth since 2020, driven by its core regulatory compliance products, and has doubled its customer base during this period. The company’s aggressive growth strategy includes the acquisition of ING SparQ and Clausematch in 2023, further solidifying its position as a comprehensive platform for managing regulatory risk globally.
John Byrne, founder and CEO of Corlytics, expressed enthusiasm about the partnership with Verdane, highlighting the potential for accelerated growth and further sector consolidation. Nils Vold, Partner at Verdane, echoed this sentiment, underscoring the strategic nature of the investment and Verdane’s commitment to supporting Corlytics’ global leadership in the RegTech field.
In conjunction with this investment, Corlytics is pleased to announce an expansion of its board of directors, welcoming Simon Russell as Chair to bring nearly three decades of software advisory expertise to the company’s strategic planning and growth.
“Corlytics has successfully progressed in developing new products to further improve our value proposition to Tier 1 clients globally. This investment from Verdane ensures the continued growing market leadership for Corlytics. We look forward to partnering with the Verdane team and with their experience and expertise, we expect to accelerate organic growth and augment that with M&A activity,” John Byrne, Corlytics CEO, said.
He added, “As well as investing significantly in our ‘intelligent content’ offering, combining data, software and AI, we will continue to lead the RegTech sector consolidation with more complementary acquisitions, following our recent transactions with Clausematch and ING SparQ.”
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