RegTech companies outside of Europe and North America raised more than $2.9bn between 2014 and Q1 2019, across 87 transactions.
The bulk of this was raised by Beijing-based SenseTime, which raised three separate funding rounds in 2018, netting more than $2.2bn in proceeds. SenseTime also raised a $410m Series B round in July 2017, led by Sailing Capital and CDH Investments. The facial recognition software developer grew 400% annually between 2015 and 2018, and is positioning itself to capitalise on the Chinese government’s increased spending on surveillance.
When the funding raised by SenseTime last year is excluded, investment in Q1 2019 is already 57.8% higher than the total funding in 2018, with five of the seven transactions last quarter involving companies based in Israel and two based in Singapore.
Tookitaki combines machine learning, distributed systems and business expertise to automate parts of the regulatory compliance management process. The company raised a $7.5m Series A round in March, led by Jungle Ventures and Illuminate Financial, which was the largest RegTech deal in Singapore last quarter and one of the largest RegTech deals outside of North America and Europe that quarter. Tookitaki has offices in Singapore, India and recently opened a US office in Q4 2018.
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