FundApps and SteelEye have announced a definitive agreement to merge, creating one of the most comprehensive RegTech platforms in the global financial services industry.
The combined organisation aims to deliver a unified, end-to-end compliance solution that brings together surveillance, monitoring, reporting, and analytics for buy-side and sell-side clients.
The merger will see existing FundApps investor FTV Capital provide an additional equity investment to support the integration. The deal marks a major consolidation in the RegTech sector, bringing together two companies that have long been at the forefront of compliance monitoring and regulatory reporting technology.
By merging their strengths, FundApps and SteelEye are set to transform how financial institutions approach compliance. Their unified platform promises complete visibility and control across the regulatory lifecycle, helping firms to manage growing complexity through automation, transparency, and integrated data analytics. The solution aims to reduce reliance on multiple disconnected systems and simplify compliance management at scale.
FundApps founder and CEO Andrew Patrick White said, “This is a transformative step for our clients and the RegTech industry. By bringing together complementary strengths in reporting, monitoring, and surveillance, we are building a single platform that addresses the full compliance lifecycle and unlocks new capabilities for our clients. While many providers rely on multiple, loosely connected systems, we are creating a unified ecosystem that simplifies regulatory complexity at scale and delivers the end-to-end capability the market has been asking for – all from one trusted partner.”
SteelEye founder and CEO Matt Smith added, “We are incredibly excited about the merger. FundApps and SteelEye share a common vision to empower financial institutions through data-driven innovation. By merging our teams, technology, and expertise, we are creating a RegTech powerhouse with the depth and breadth to meet the evolving needs of our clients on a global scale.”
The merger follows FTV Capital’s initial growth equity investment in FundApps earlier this year and the appointment of several FTV executives, including Brad Bernstein, Richard Earnshaw, and Max Weber, to the FundApps board of directors.
Once combined, FundApps and SteelEye will serve more than 350 clients, including leading banks, asset managers, hedge funds, and commodities firms in 18 countries. The companies’ joint operations will generate a combined annual recurring revenue of nearly £50m, with major offices located in London, New York, Singapore, India, and Portugal.
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