Novatus Advisory, whose RegTech division provides tools for regulatory reporting, has received a £4 million investment from Maven Capital Partners, a venture capital company. The company plans to use the funds to expand its team of technical advisors and boost its sales and marketing resources.
London-based Novatus provides specialised advice to financial services firms to support them in complying with their regulatory obligations, including risk, compliance and ESG programmes.
Key to this is Novatus’ RegTech division which develops market leading tools to support firms with complex challenges. The company’s flagship Novatus Transaction Reporting Analysis tool helps banks and asset managers to meet their transaction reporting reconciliation requirements. In addition to supporting its planned go-to-market activities, the new funding will also support ongoing investment in the TRA tool.
The business operates in a growing market with clear and compelling growth drivers as financial services organisations are subject to ever increasing and more complex regulatory obligations. The demand for Novatus’ services has grown year-on-year and there is significant bandwidth to grow further within a global market estimated to be worth £18.8 billion per annum.
According to Alan Robertson, Investment Director at Maven, “We can see the significant value that [Novatus’] tech solution offers to clients. Its advisory and consultancy services are already highly rated and trusted by its client base and the Maven investment will provide the resource Novatus needs to continue to provide its high level of service while pursuing sales growth, alongside the continued development of its complementary technology platform.”
Matthew Ranson, Partner and co-founder of Novatus added: “Maven’s investment will enable us to capitalise on the significant growth we are seeing in the RegTech market. Our market leading tools offer cost effective and flexible solutions – designed using our advisory insights – to meet complex regulatory requirements, offering a unique alternative to our peers. We are delighted to partner with Maven, a company that has established a strong track record for investing in the most innovative technology firms.”
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