RegTech solutions provider eflow Global has raised £7 million in capital through a Series A funding round. The company plans to invest the funds in R&D for new products and to accelerate growth with a particular emphasis on North America and Asia-Pacific.
Founded in 2004, eflow provides financial firms with software solutions to help them comply with regulatory requirements. The solutions include market abuse surveillance, transaction cost analysis, transaction reporting and eComms surveillance. In 2021, eflow migrated to a cloud-based SaaS model, and in 2022, the company’s executive team led a successful management buyout.
Ben Parker, CEO and founder of eflow, says: “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.”
The funding round was led by Finch Capital and supported by Atempo and ScaleUp Group partners. It will fuel an exhaustive period of R&D with eflow hoping to release a range of new products and enhanced solutions over the coming two years.
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