Overview of the transaction
SteelEye, the compliance technology and data analytics firm, has announced its $21m Series B funding round led by US fund Ten Coves Capital, with investments from existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office
The funding round comes on the back of SteelEye’s record growth in 2021 and will support the firm as it expands internationally, with an emphasis on North America. The funds will be used to meet increasing demand for holistic compliance solutions
Overview of SteelEye
Launched in 2017, SteelEyeis headquartered in London with offices in New York, Bengaluru (India), and Braga (Portugal)
The company provides a SaaS-based RegTechplatform that allows banks, brokers, asset managers, and other regulated financial firms to simplify their compliance processes across various EU, UK, and US market regulations
SteelEyecan natively bring together communications with trade and order data under a single lens. This unified holistic approach provides data-driven and automation-led solutions for regulatory reporting, communications and trade surveillance, best execution monitoring, and data analytics
Asset-class agnostic, the award-winning platform has attracted over 130+ customers and counts many blue-chip customers such as Fidelity International and Schroders
Royal Park Partners’ role
Royal Park Partners acted as exclusive financial and strategic advisor to SteelEyeand its shareholders throughout the transaction
This transaction highlights Royal Park Partners’ extensive experience in the RegTechand SaaS space servicing financial services companies
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