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: Adopting Entity Data Hierarchies to Address Holistic Risk Management

Firms across the board are struggling to gain a comprehensive view of their counterparty risk. In the wake of the Credit Crisis, regulators have increased their focus on pushing firms to not only better understand risk exposure, but also be able to provide evidence of the analysis they use to create their view of risk....

BLOG

ThetaRay Extends Agentic AI into AML Investigations with Ray

As regulatory expectations around anti-money-laundering (AML) effectiveness continue to rise, many financial institutions are finding that the greatest operational pressure now sits in investigations rather than detection. While transaction monitoring models have advanced, the downstream work of reviewing alerts, assembling evidence and documenting decisions remains labour-intensive and difficult to standardise. ThetaRay is addressing this challenge...

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Applications of Reference Data to the Middle Office

Increasing volumes and the complexity of reference data in the post-crisis environment have left the middle office struggling to meet the requirements of the current market order. Middle office functions must therefore be robust enough to be able to deal with the spectre of globalisation, an increase in the use of esoteric security types and...