Netherlands-based risk management company Owlin has received $3.5m in its first funding round.
Fellow Dutch firm Velocity Capital FinTech Ventures led the investment round.
Having closed the round, the Owlin will improve the company’s international growth efforts, with a particular focus on the UK and the US.
Owlin offers a natural language processing platform which gives financial professionals news analytics tools to monitor their portfolio proactively, continuously and in real-time. Its dashboard enables them to anticipate opportunities, read the market and detect risks.
Leveraging three million global new sources, Owlin boost visibility and transparency of key risk events, visualising data-driven trends on global indices, industry sectors, themes and companies.
The company helps businesses comply with risk-based regulations such as Basel III which requires financial institutions to improve their real-time risk management processes.
Owlin CEO Sjoerd Leemhuis said, “We are delighted with this financial injection from Velocity. Owlin is gaining a lot of traction especially in the financial sector, and it has become clear that rather than merely solving an information problem, we help our clients make their risk models more data driven, accurate, timely and useful. Our mission is to shape a better-informed world and we continue to do that with- and for our clients.”
Of the $10.9bn to be invested into the RegTech sector since 2014, only 2.9 per cent has been deployed to companies building solutions for Basel III. The small percentage is a result of more prominent risks in the industry, namely KYC and AML, which make up 58.8 per cent of the capital investment in RegTech.
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