Regtech firm Cappitech caps off first funding round with $4m
Automated reporting tech firm Cappitech has secured $4 million in its Series A financing round, led by 83North, with participation from Rony Grushka and Kevin Gould, co-founders of Markit.
Grushka will join the Cappitech board as part of the agreement.
Cappitech plans to use the funds to accelerate product development, expand regulatory reach and provide business intelligence and big data analytics using artificial intelligence (AI).
The firm will also increase investment in its sales and marketing, to raise its profile across Europe.
Cappitech provides its clients, spanning banks, brokers, asset managers, corporates and insurance companies, with a single platform, Capptivate, to help comply with international transaction reporting obligations by automating daily processes.
“Financial institutions need easy to use tools to help with their regulatory reporting and regulatory insight,” comments Grushka. “I am proud of the way Cappitech is reshaping the regulatory landscape with its user-friendly technology.”