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

VoxSmart Raises $25 Million with Toscafund to Finance Expansion and Growth

Subscribe to our newsletter

In a deal claimed to be one of the largest fundraises conducted for the RegTech and Compliance sector, London-based communications surveillance provider VoxSmart has raised $25 million to strengthen its markets surveillance technology suite and to fund further expansion, particularly in North America and emerging markets. Following $13.7 million raised in earlier rounds of Series A & B funding from investors including Deepbridge Capital and NatWest Bank, the lead investor in the new funding round is Toscafund Asset Management LLP.

VoxSmart provides voice and electronic communications analytics and remote compliance solutions, enabling businesses to supervise communication conducted on a range of different voice and digital platforms for risk and compliance purposes. The company acquired the trading business of Spanish supplier Fonetic in November 2019 for an undisclosed sum.

According to Oliver Blower, CEO, VoxSmart was the first vendor to introduce compliant WhatsApp surveillance to the market in 2016, and now plans to accelerate product development in instant message capture on emerging channels such as Telegram and Signal, which is a key area of focus for the company.

“WhatsApp has gone from being a peripheral used in niche markets to a mainstream communication platform used daily in traditional wholesale markets. It’s no longer the ‘black sheep’ communication method,” Blower says. “Now, platforms like Telegram and Signal are becoming increasingly prevalent, particularly in the digital asset space. We want to be able to say to our customers, it doesn’t matter where you trade or how you communicate, we’ll make sure it’s compliant, it’s secure, and it interfaces with regulation.”

Blower also sees an increased demand for cloud-based surveillance technology such as that offered by VoxSmart as working from home becomes standard market practice in the post-pandemic economy. “A typical trading floor environment has gone from maybe half a dozen to thousands of locations globally, because everybody’s at home. Those locations have to have the same compliance standards as a traditional trading floor. Firms need to ensure that they have exactly the same compliance standards across both. Our technology allows them to have that interoperability between locations, so it doesn’t matter where you trade or sell financial products, you’re compliant. That’s always been our philosophy at VoxSmart, always on, work anywhere, always compliant.”

He says “Toscafund is an excellent name in financial services, their network and their experience in helping growth businesses achieve their ambitions is unparalleled. And with their European, and indeed global, focus, they are 100% the right partner for us, so we’re absolutely delighted that they’ve come aboard.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: How to make the most of market data

Date: 23 May 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Market data means different things to different organisations, it can be extremely expensive, and often comes with limited licensing contracts. It must be carefully sourced, governed, quality checked, and integrated. And it must be fit for purpose across a...

BLOG

Depicting Crypto’s Data Dilemma Before the Next Winter Cold Bites

By Berta Ares Lombán, Head of Digital Assets Financial Information at SIX. The crypto winter, when a basket of leading cryptocurrencies lost around $1.9 trillion in value, put a much-needed spotlight on the long-term future of digital assets. While this is not the first time cryptocurrencies have seen significant adjustments to their valuations, the fallout...

EVENT

A-Team Briefing: Cloud Innovation for Data Ops

This Innovation Briefing will explore approaches to data infrastructure transformation, technologies required and how to make sure processes are optimised to support real time data management. Hear from leading practitioners and innovative technology solution providers who will share insight into how to set up and leverage your data infrastructure to provide user access to consistent data and analytics, and companies the ability to monetise their data.

GUIDE

Regulatory Data Handbook 2019/2020 – Seventh Edition

Welcome to A-Team Group’s best read handbook, the Regulatory Data Handbook, which is now in its seventh edition and continues to grow in terms of the number of regulations covered, the detail of each regulation and the impact that all the rules and regulations will have on data and data management at your institution. This...