Thentia, which helps companies meet their regulatory requirements, has bagged a Series A investment from the Business Development Bank of Canada (DBC).
The value of the investment was not disclosed, but the capital came from the BDC’s Clean and Energy Venture Fund.
With the equity in the bag, the RegTech platform will expand its sales and marketing activities around the world and further develop its cloud platform.
The Thentia Cloud solution is a collection of regulatory modules including licensing tracking, registration issuance and renewals, education, public complaints, communication monitoring, reporting, investigation and enforcement, auditing, data analytics, governance and more.
The Canadian RegTech platform provides a B2B software-as-a-service solution to help companies meet a variety of compliance needs.
Thentia CEO Julian Cardarelli said, “Thentia’s mission is to bring best-in-class technological capabilities, such as internet-scale, high performance records management, predictive analytics, machine learning, data science and graph-based data exploration to its customers.
“The regulatory industry is strongly rooted in academics with many visionary leaders working tirelessly to protect the public. Thentia is equally tirelessly focused on providing the technology platform and tools needed to fully realize this vision.”
North America is a hotbed for RegTech. Since 2015, a total of $17.4bn has been invested into RegTech companies around the world, of which, 65.6% has been deployed to solutions based in North America. Asia represents the second biggest market, with a 17.1% share of the funding.
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