Novatus Global, a leader in regulatory technology for financial institutions, has raised $40 million from Boston based growth equity firm Silversmith Capital Partners. This funding marks a significant step for Novatus, enabling the company to expand globally and enhance its technology amid an increasingly complex regulatory landscape.
Founded in 2019 by experienced industry professionals, Novatus has quickly built a strong reputation among top banks, asset managers, and financial institutions. Over the past year, the company has seen its revenue more than triple, reflecting the growing demand for its compliance solutions. The investment from Silversmith will help Novatus enhance its flagship platform, En:ACT, a cloud-native SaaS solution that simplifies complex transaction reporting requirements across various global jurisdictions.
Andrew Hedley, Co-Founder and Partner of Novatus, emphasized the alignment between the two companies. “Silversmith shares our vision of creating products that make our clients’ operations safer and more efficient,” he said. “This investment will allow us to deepen our commitment to innovation while accelerating our international expansion, particularly in North America.”
Co-Founder and Partner Mathew Ranson highlighted the company’s unique approach to transaction reporting, drawing on the founders deep operational knowledge of the transaction reporting space and its challenges. “We built Novatus with a focus on automation and technology, moving away from human-driven processes. Silversmith recognized the potential of our En:ACT platform, which leverages AI and machine learning to address regulatory challenges with fresh thinking.”
Silversmith’s Principal, Ned Kingsley, echoed this sentiment, expressing confidence in Novatus’ future. “We look for founders who solve real-world problems, and Andrew and Matt have done exactly that. We’re excited to support their continued growth,” Kingsley noted.
Alan Robertson, Partner at Maven Capital Partners, which had previously invested in Novatus, praised the company’s progress. “Since our initial investment, client adoption of En:ACT has driven a 13-fold increase in annual recurring revenues. We remain committed to supporting Novatus in scaling globally and enhancing its market-leading platform,” Robertson stated.
This new partnership will also see Silversmith’s Todd MacLean and Ned Kingsley joining the Novatus board, further reinforcing the strategic alignment between the two firms.
By combining deep industry knowledge with AI-powered technology, Novatus is well positioned to help its clients navigate an evolving global landscape with greater confidence and agility.
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