Novatus Global, a London-based leader in regulatory technology, has announced a significant growth investment of $40m from Silversmith Capital Partners, a growth equity firm located in Boston.
Since its inception in 2019 by seasoned industry experts, Novatus has become a trusted ally to major global banks, asset managers, and financial institutions, a relationship cemented by a revenue increase of over threefold in the past year.
This funding is earmarked for further development of the cutting-edge SaaS platform, Novatus En:ACT, and for broadening the company’s geographical footprint, reinforcing its position as the preferred partner for its clients.
Novatus stands out in the RegTech landscape by enabling its clients to tackle their most demanding regulatory and compliance needs, whether imposed by governments or industry bodies. Its flagship offering, Novatus En:ACT, is a market leader, providing scalable, cloud-native solutions trusted globally to ensure accurate and timely transaction reporting across all G20 transaction reporting regimes.
Additionally, Novatus offers bespoke advisory services that leverage its technological solutions and decades of industry expertise to assist clients of varying sizes and stages in navigating complex compliance, risk management, and transformational challenges.
The investment will primarily fuel innovation and support Novatus’s ongoing expansion into North America, building on a successful launch in Australia the previous year.
Andrew Hedley, Co-Founder and Partner at Novatus, said, “We are delighted to partner with Silversmith as we embark on the next chapter of our growth journey. Silversmith shares our values and vision – particularly our passion for building great products to make our clients’ daily lives better, safer and more efficient.
“This investment will be used to double down on that commitment to innovation while also fueling our continued international expansion, particularly in North America following our successful entry into Australia last year. It is a real privilege to work with such brilliant people across our team and we are incredibly excited for the next chapter of growth.”
Matthew Ranson, also a Co-Founder and Partner, said, ““When we founded the company in 2019, we had a leg up on the market – Andrew and I had both lived this problem first-hand. As a result, we wanted to provide a solution that would solve the complexity of transaction reporting in a novel way – driven by powerful, automated underlying technology as opposed to human intervention.
“With deep experience in the GRC and regtech markets, Silversmith recognized the uniqueness of En:ACT in attacking the problem with fresh eyes and harnessing the massive innovation being driven by AI and machine learning. We look forward to working closely with Todd, Ned and the Silversmith team to achieve our vision of creating the single best platform of its type anywhere in the world.”
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