German RegTech software provider cleversoft has picked up investment from Dutch private equity investor Main Capital.
The business was founded in 2004, and has grown to become a software specialist helping financial institutions comply with a growing number of complex regulations.
The company aims to support globally-acting banks, asset managers and insurers to tackle regulatory challenges under regimes such as PRIIPs, MiFID II, PIB, FIDLEG and AML.
Cleversoft said it aims to grow towards becoming a market leading RegTech player in the European market through organic growth and a synergetic buy-and-build strategy.
Florian Clever, managing founder of the company, said, “The RegTech market is accelerating under the increased pressure and complexity of regulation in the financial industry.
“At the same time, the market for smart regulatory solutions is underserved and extremely fragmented.
“We are excited that the cooperation with Main allows us to capitalize on these observations and to further expand our product offering through an add-on strategy. Their proven track-record in consolidation strategies and software expertise make them the ideal partner to support cleversoft in our next growth stage.”
Main Capital managing partner Charly Zwemstra added, “Cleversoft has demonstrated an impressive profitable growth path over the last few years.
“The company offers highly-scalable regulatory reporting solutions for the financial industry.
“With its products, the company supports the financial industry to overcome the increasingly complex regulatory challenges. We see strong organic growth opportunities for cleversoft in this market.
“Moreover, through an active buy-and-build strategy, we see ample opportunities for cleversoft to expands its product offering and to enter adjacent market segments, both in Germany and abroad.
“Currently we are also invested in SecondFloor, an Amsterdam-based Regtech company with a focus on the insurance & pensions industry.”
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Copyright © 2018 RegTech Analyst