Enterprise knowledge administration RegTech SteelEye has secured $10 million in progress capital in a spherical led by the FinTech Strategic Investments staff at Eight Roads, the proprietary funding agency backed by Constancy, alongside present investor Illuminate Monetary.
Established in October 2017, SteelEye hoovers up, cleanses and indexes knowledge from present silos, enabling shoppers to handle their regulatory obligations and carry out additional enterprise evaluation from a single platform.
Matt Smith, CEO of SteelEye, says: “Knowledge accuracy has been one of many greatest challenges going through companies’ following rules corresponding to MiFID II. By fixing the information downside first, our shoppers not solely save value and unlock time however achieve unparalleled perception into their enterprise and business operations.”
So far, the agency has launched merchandise for document retaining, commerce reconstruction, transaction reporting, commerce and communications surveillance, greatest execution reporting, transaction value evaluation and superior analytics for rules together with MiFID II, EMIR, Dodd-Frank, SMCR and MAR, choosing up 50 shoppers throughout seven international locations within the course of.
Mark Beeston, managing companion and founding father of Illuminate Monetary Administration, feedback: “Since we invested in SteelEye’s late seed spherical, they’ve continued to suit completely in Illuminate’s Enterprise FinTech targeted portfolio, offering a centralised and infinitely scalable knowledge answer for monetary establishments. When a consumer’s knowledge is multi functional place, SteelEye’s potential to deploy new RegTech or enterprise intelligence modules, both homegrown or by way of partnerships, may be very highly effective.”