About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Fenergo Gets $80 Million Investment from ABN Amro and DXC Technology

Subscribe to our newsletter

Dublin-based Fenergo has secured $80 million of new funding from ABN Amro and financial infrastructure specialist DXC Technology in one of the biggest RegTech financing rounds yet.

The company, which specialises in solutions for AML and KYC, as well as client lifecycle management (CLM), plans to use the funds to acquire new capabilities in the RegTech space and enhance its existing platform; Fenergo spent 40 million euros on the platform over the past two years. It has named Joe Dunphy, head of strategy and corporate development, to lead its M&A activities going forward.

Terms and size of the funding haven’t been officially disclosed. However, sources say the $80 million investment will secure a 10% stake in Fenergo, indicating a valuation of $800 million. Other estimates, though, have valued Fenergo at around the $1 billion mark, these sources say.

In the latest financing round, ABN Amro Ventures will take an approximate 1% stake, according to sources familiar with the arrangement. The Fenergo stake marks a strategic investment for the Dutch bank as it seeks to shore up its efforts in these areas of activity. ABN AMRO joins BNP Paribas as an investor that is also a customer. The company has outlined Fenergo’s role in aiding its KYC and CLM challenges in a published video.

DXC secured its stake of around 9% last summer, these sources say, indicating an investment of around $72 million. The company already counts FinTech companies in its portfolio of offerings, among them trading infrastructure and connectivity company Fixnetix and Luxsoft, a digital strategy and software engineering firm it acquired last year.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Proactive RegTech approaches to fighting financial crime

Financial crime is a global problem that costs the economy trillions of dollars a year, despite best efforts by financial services firms, regulators, and governments to stem the flow. As criminals become more sophisticated in how they commit financial crime, so too must capital markets participants working to challenge criminality and secure the global financial...

BLOG

NICE Actimize GenAI Solutions Cut Crime Investigation and SAR Filing Time

NICE Actimize, a provider of financial crime, risk, and compliance solutions, has released generative AI solutions designed to reduce the time and manual effort traditionally required for financial crime investigations and compliance reporting. The company suggests the solutions offer up to a 50% decrease in investigation time and a 70% reduction in Suspicious Activity Reporting...

EVENT

ESG Data & Tech Summit London

The ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...