ClauseMatch, a London-based regulatory compliance firm, as per recent reports, has just secured a $2.5 million venture debt funding package from Silicon Valley Bank (SVB), a Santa Clara, California-based high-tech commercial bank. With this SVB package, the firm is now aiming for continued growth in European and Asian markets.
The London-based ClauseMatch, which recently opened a new regional base in Singapore to cater to its South East Asian clients, aims at helping companies by walking them step-by-step through the complex regulatory environment, automating the compliance workflow process across thousands of documents used by multiple departments, to demonstrate compliance and create a comprehensive audit trail.
“Our ambition is to create a world where compliance is transparent and viewed as a business enabler rather than a hindrance,” states CEO and founder, Evgeny Likhoded. “Our clients being global means that we already have a presence in many regions across the world. The funding received from Silicon Valley Bank will help us deliver our solution to financial institutions that are headquartered in Europe, Asia, and the US.”
The London-based ClauseMatch, with its unique machine learning approach to standardize and automate the workflow process across teams, has attracted much attention of all major financial institutions including Barclays and Revolut.