RegTech firm ComplySci reels in $120m to boost compliance for financial services customers

ComplySci, regulatory technology and compliance solutions provider for the financial services sector, landed a growth capital investment of $120m from private equity firm K1 Investment Management.

ComplySci partners with C-suite teams and in-house compliance, legal and technology professionals to deliver technology-enabled employee regulatory risk mitigation and compliance solutions for RIAs, broker-dealers, hedge funds, private equity firms, venture capital firms and other businesses across the financial services sector.

The RegTech firm will use the investment to further build out its platform including existing modules, such as Political Contributions Verification, Senior Managers and Certification Regime and Compliance Program Management and the recently-launched Compliance Control Room and Conflict Checking products, which tracks firm activities along with employee activities to proactively identify potential conflicts of interest and market abuse through a single integrated solution.

Founded in 2003, ComplySci’s platform is now used by over 1,400 customers, including some of the world’s largest financial institutions, it said.

ComplySci CEO Amy Kadomatsu said, “As reflected in our record financial results for the first quarter of this year, which represented a new high-water mark for our already rapidly growing firm, we are leaders in a fintech segment where proven solutions from experienced providers are always in demand, regardless of market, economic or industry cycles.

“For our customers, business partners and employees, our new partnership with K1 underscores this key takeaway:  The best is yet to come as we harness the significant new investment in our company with the talent, energy and innovative spirit that our entire team brings to each customer relationship.  We are setting the standard for the future of tech-empowered employee compliance.”

Sharing the same sentiment, K1 senior VP Roy Liao said, “In this environment of ever-expanding regulatory complexities, financial services firms recognize how crucial it is to have technology-enabled, sophisticated and reliable employee compliance solutions.

“ComplySci has successfully positioned itself as a leading and trusted partner to these firms, providing them with indispensable capabilities that give them the visibility and confidence they need to operate their businesses, on a scalable yet effective basis. We’re delighted to partner with Amy and the ComplySci team to further expand the company’s ongoing growth and success.”

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