RegTech companies in Europe raised almost $305m across 26 deals in Q2 2019, with $276.1m of this invested in the ten largest transactions last quarter.
Companies based in the UK and France dominated the list, capturing six and three deals respectively, with the remaining deal involving a RegTech company based in Ireland.
Vade Secure is an email security solution provider based in Hem, France. The company raised a $79.1m Series A round from General Catalyst in June 2019. This was the largest RegTech deal in Europe last quarter and Vade plans to use the funds to build out its go-to-market strategy focused on servicing business customers through Managed Service Providers.
London-based Onfido, a photo-based identity verification startup, raised $50m in a Series C round led by Augmentum Fintech, SoftBank and Salesforce Ventures in April 2019, which was the largest RegTech deal in the UK last quarter. Onfido has raised over $110m since its founding in 2012 and now has over 250 employees across offices in San Francisco, New York, Lisbon, Delhi, and Singapore in addition to its London headquarters.
Immedis is a provider of enterprise technology solutions for tax and payroll compliance. The Dublin-based RegTech raised $28.3m from Scottish Equity Partners in June, in what was the only private equity funded deal in the top ten last quarter, valuing the company at over $190m.
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