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: Best practice approaches to trade surveillance for market abuse

Breaches of market abuse regulation can lead to reputational damage, eye-watering fines and, ultimately, custodial sentences of up to 10 years. Internally, market abuse triggers scrutiny of traders and trading behaviours; externally it can undermine confidence in markets and cause financial instability. This webinar will discuss market abuse of different types, such as insider trading...

BLOG

Saifr Acquisition of Giant Oak Solution Adds Adverse Media Screening and Monitoring

Saifr, a Fidelity Investments company, plans to extend its RegTech capabilities with the acquisition of GOST, an AI platform developed by Giant Oak to deliver adverse media screening and monitoring. The addition is expected to provide financial institutions with broader functionality across regulatory intelligence, due diligence, risk management analytics and continuous monitoring, and help them...

EVENT

Data Management Summit London

Now in its 14th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Tackling the Data Management Challenges of FATCA

As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is...