More than $3.1bn has been invested in the 10 most well-funded RegTech companies outside of North America and Europe, with six companies based in Israel, two in China, one in Australia and one based in Indonesia.
Beijing-based facial recognition company SenseTime, raised over $1.2bn in Q2 2018, across two Series C rounds, at a $4.5bn valuation, making it the most well-funded RegTech company to date having raised over $2.6bn. The company 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.
Israel has become a key cybersecurity hub in the world with an ecosystem of companies providing surveillance, detection and security solutions to the financial services sector.
Aqua Security is a cybersecurity company based in Tel Aviv. The company has raised $100m since its founding in 2015, making it the most well-funded RegTech company in Israel. The company most recently raised $62m in a Series C round in April 2019 from Insight Partners, TLV Partners, M12 and Lightspeed Venture Partners. The company has 150 employees with additional offices in Boston and with the new influx of cash, the company plans to expand quickly, growing sales, marketing and customer support.
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