Swiss RegTech startup Apiax has completed a $6.6m Series A funding round to boost its digital compliance solutions and to go global.
The round was co-led by venture capital firms XAnge and e.ventures, which recently supported InsurTech startup DeadHappy £4m Series A round.
Apiax will use its new money to fuel its global growth plans. The RegTech startup transforms written regulations into binary, machine-readable digital compliance rules to provide everyone with easy access to compliance knowledge and to enable digital solutions to be compliant by design.
Nicolas Blanchard, co-founder of Apiax, said, “In recent months, we have created terrific momentum and a basis for international growth. With e.ventures and XAnge, we have found the perfect partners to boost our global expansion plans.”
Andreas Haug, co-founder and Managing Partner of e.ventures, added: “We are impressed by the results Apiax is already delivering and confident that Apiax, with its ‘open compliance platform’ approach, has the best qualifications to establish a comprehensive and highly efficient solution for the fast-growing but so far highly fragmented area of compliance.”
Copyright © 2018 RegTech Analyst
