Gecko Governance, the developer of the world’s first Blockchain solution for financial services regulatory compliance, has raised $1m in seed financing.
The investment came from COSIMO Ventures, an investment firm focused on transforming promising deep technology companies into global industry leaders, investing in blockchain, cryptocurrencies, virtual reality, augmented reality, and the Internet of Things.
Based in Dundalk, Ireland and with offices in New York and Sydney, Gecko will use the capital to accelerate its global expansion.
Founded in 2014, Gecko’s suite of Blockchain-integrated technology products allows users to schedule all end-to-end compliance and regulatory tasks in a single platform. It provides them with a verifiable, independent audit trail of compliance that satisfies global financial regulators according to the company.
“Our Blockchain solution is agile and fully customizable, allowing us to integrate with each financial services firm’s systems and set of best practices,” said Shane Brett, chief executive officer and co-founder of GECKO. “Blockchain is the future for regulatory and compliance in financial services, and we are pleased to have COSIMO Ventures’ support as we expand to meet growing demand in this sector.”
The company offers live oversight of all compliance requirements, with fund managers using the platform to manage AML/KYC, Operational Due Diligence (ODD), Fund Launches and Investor On-Boarding.
Gecko Governance’s latest fundraise comes just months after it was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Last year, the first three months of 2017 saw the blockchain sector’s funding levels rise QoQ according to data by FinTech Global. The opening quarter of 2017 saw just $95.3m investment, while Q3 saw $404.8m invested.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
