UK-based RegTech scaleup eflow Global has raised £7 million in capital through a Series A funding round. The investment round was led by Finch Capital (which backed RideTandem, Futr and Currensea) and supported by Atempo and ScaleUp Group partners.
This funding will help eflow Global accelerate its growth with a particular emphasis on strengthening footholds in North America and Asia-Pacific. The capital injection will also will fuel an exhaustive period of research and development with the company hoping to release a range of new products and enhanced solutions over the coming two years.
Ben Parker, CEO and Founder of eflow Global, commented: “Increasing scrutiny from global regulators has made it imperative for investment firms to automate costly and time-consuming regulatory obligations. With a recent move to a 100% cloud model, we felt the time was right for us to take additional investment to accelerate growth and product development plans.”
Aman Ghei, Partner at Finch Capital added: “We are very excited to be partnering with Ben and the team at eflow. There aren’t many profitable and high-growth businesses in regulation technology and that is a testament to how well the team has done to deliver best-in-class SaaS solutions to marquee customers. With our investment, the team will further be able to invest in technology and product development to enable their customers to stay on top of the ever-changing regulatory environment.”
Simplifies compliance for financial firms
Founded in 2004 by Ben Parker, Marsha Parker, and Alex Parker, eflow Global provides financial firms with software solutions to help them comply with their regulatory requirements. It offers award-winning solutions for market abuse surveillance, transaction-cost analysis, transaction reporting and eComms surveillance.
eflow Global supplies financial companies with cloud-based solutions that ensure compliance with various regulations. Its flagship solution, TZ, gives businesses solutions to comply with regulations around market abuse and insider trading, as well as best execution and transaction cost analysis. This enhanced solution empowers financial firms to ingest and archive unstructured voice, communication, calendar, messaging and collaboration data to be monitored and tested alongside structured trade data within TZ.
The company’s emphasis on simplifying compliance procedures while retaining robust security has granted them a reputation as one of the world’s leading RegTech providers. Its solutions are currently used by over 100 financial institutions worldwide including Aegon Asset Management and Plus500.