Seismic Foundry has made two investments in the FinTech space by backing RegTech startup Waymark Tech and chatbot LodeStar Ecosystems.
The capital markets venture fund has also begin raising its next fund for the 2018-19 financial year, however, it is unclear how much it is targeting.
Waymark Tech, which develops software for companies in highly regulated industries and professional services firms, represents Seismic’s final investment for the current tax year.
Its flagship product, Wayfinder, is an AI engine that continually monitors and analyses regulatory changes and makes recommendations to ensure compliance using Natural Language Processing (NLP).
Earlier this year, Waymark was chosen for Accenture’s dedicated RegTech stream for its sixth FinTech Innovation Lab London.
Mark Holmes, Waymark founder and CEO, said: “Waymark is delighted to have secured investment from the leading industry figures who make up Seismic Foundry. They really understand our space and the potential of our global regulatory intelligence platform. Seismic’s input on our strategy and model will help us to scale efficiently, bringing the power of Waymark to many more people in regulated firms across the world.
“The twists and turns of regulatory change and enforcement are not receding anytime soon and so the ability to parse the millions of pages of regulation to provide users with answers to their questions when they need the information most is invaluable.”
The Seismic Foundry Capital Markets FinTech SEIS Fund 2017-18 has also backed LodeStar Ecosystems, a state-of-the-art intelligent advisor platform for the Financial Services Industry. Lodestar’s ‘LodeBot’ application is a personalised Intelligent-Advisor targeted at Brokers, Traders and Asset Managers. The AI platform pulls together information on financial assets from a wide range of internal and external sources and helps users identify the key signals that inform buy and sell decisions that are most relevant to them and their customers.
Seismic Foundry partner Jeff Gale said, “The firm provides a valuable tool for users to capture and co-ordinate investment activity, utilising cutting edge technology to drive efficiency and enhanced client service. LodeBot will streamline broker and advisor activities enabling greater levels of customer service across organisations and freeing up valuable resources to focus on additional revenue generating activities.”
Following the deals, The Seismic Foundry Capital Markets FinTech SEIS Fund 2017-18 has now closed and funds are being raised for the 2018-2109 SEIS and EIS Funds.
FinTech SEIS Fund 2017-18 previously backed RegTech startup Enforcd and buyside data management outfit KiteEdge. early stage Capital Markets FinTech investors
The early stage capital market investors looks to partner with and invest in SEIS approved companies solving for Capital Markets specific challenges, focusing on firms looking to collaborate with Financial Institutions.
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