RegTech Scale-Up SteelEye Raises $21M in Round Led by Ten Coves Capital to Accelerate Growth and Meet Demand for Holistic Compliance Solutions
8.9.2022 02:01:00 EEST | Business Wire | Press release
SteelEye, the compliance technology and data analytics firm, has announced the completion of a $21M Series B fundraise to accelerate its global expansion – with an emphasis on North America. The funding round – led by Ten Coves Capital alongside existing investors Fidelity International Strategic Ventures, Illuminate Financial, Beacon Equity Partners, and a large family office – takes SteelEye’s total capital raised to $43M.
Today, SteelEye counts some of the largest financial services firms in the world as clients including Fidelity International and Schroders. The funding round comes on the back of record growth in 2021 when SteelEye’s revenues grew by 88 percent and will support the firm as it targets further rapid yet scalable international expansion.
Heightened regulatory pressure, a changing operational environment post-COVID and growing data volumes have increased the complexity and cost of compliance for financial firms – making it harder for them to accurately comply with rules designed to protect the integrity of the financial markets. At the same time, regulatory scrutiny is growing, with regulators imposing combined fines of over $1BN on global tier one banks in the last nine months.
SteelEye – headquartered in London with offices in New York, Bengaluru (India), and Braga (Portugal) – provides a SaaS-based RegTech platform that allows banks, brokers, asset managers, and other regulated financial firms to simplify their compliance processes across various EU, UK, and US market regulations. The firm’s mission is to make it easy for financial firms to accurately comply with regulatory rules, while also allowing firms to glean insights from their data.
Commenting on the funding, Matt Smith, CEO of SteelEye, said:
“Facing regulatory clampdowns, huge data volumes, and inflation impacts on budgets, financial firms need ways to reduce costs through efficiencies and automation. T his is what we deliver through our distinctive, data-centric compliance platform.
“ We are delighted to partner with the team at Ten Coves Capital, who have a long history of enabling technology businesses to scale and deliver real value to the financial services industry.”
Launched in 2017, SteelEye is unique in being the only solution that can 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.
Steve Piaker, a Managing Partner at Ten Coves Capital, said:
“SteelEye has a highly differentiated approach and has demonstrated strong momentum and growth in Europe. Financial services firms are drowning in data and SteelEye delivers a modern unified data capture and analytics solution at scale tuned to more accurately and efficiently separate out the noise from actionable investigations. We are excited to partner with the company as it accelerates its expansion in the North American market and beyond.”
Royal Park Partners acted as the exclusive financial and strategic advisor to SteelEye and its shareholders throughout the transaction.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220908005075/en/
Contact information
Dee Fallon
SteelEye@boldspace.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
InvestEco Sustainable Food Fund IV Holds a Final Close With Total Commitments of C$106M29.6.2026 16:00:00 EEST | Press release
InvestEco Capital is pleased to announce the final close of the InvestEco Sustainable Food Fund IV. This fund will continue InvestEco’s work of investing in high-growth food companies that promote health and sustainability in the food sector. The Fund closed with total commitments of C$106M, the largest InvestEco fund to date. Investors include Farm Credit Canada, Export Development Canada, Business Development Bank of Canada, Fonds de solidarité FTQ, and two Government of Canada Social Finance Fund wholesalers: Boann and Realize Capital Partners. In addition, the Fund received commitments from a number of private investors and family offices. The Fund's investments to date include Humble Snacks, Little Sesame, Mid-Day Squares and Algae Cooking Club. The Fund expects to make a further 6 - 10 investments over the next few years. InvestEco Capital, founded in 2002, is a Toronto-based venture capital firm and impact investor focused on the sustainable food sector. For more information, em
Geoswift and SKUx Announce Strategic Partnership to Develop a First-of-Its-Kind Programmable Stablecoin Commerce Network29.6.2026 15:00:00 EEST | Press release
Geoswift and SKUx announced a groundbreaking partnership to develop a next-generation programmable stablecoin commerce network. This strategic collaboration bridges digital assets, traditional finance, and real-world commerce at a global scale, representing a "one-of-one" opportunity by combining Geoswift's global infrastructure with SKUx's specialized item-level controls directly within point-of-sale (POS) systems. While enterprise stablecoin usage continues to accelerate globally, governments, enterprises, payment networks, and AI-driven commerce platforms are increasingly seeking programmable payment infrastructure that can bridge digital assets with real-world commerce. The innovation goes far beyond treasury management or even enabling consumers to spend stablecoins at retail locations. Instead, it unlocks true "programmable money" with embedded controls, rules, and purpose-driven utility —requiring both programmable settlement and programmable spending controls. Geoswift and SKUx
Esri Sponsors Smithsonian Exhibition Showcasing Natural and Cultural Objects from All 50 States29.6.2026 15:00:00 EEST | Press release
Esri, the global leader in location intelligence, is sponsoring From These Lands: Sharing Our Natural and Cultural Heritage, a new exhibition at the Smithsonian's National Museum of Natural History that showcases objects from all 50 states and explores the deep connections between people, place, and the natural world that unite the nation. The exhibit, which opened this June 18 and runs through 2029, brings together more than 600 specimens and cultural artifacts from across the United States, Washington, DC, and the five territories that people call home. Drawing from the museum's own collection, From These Lands shows how natural systems, cultural traditions, and geography intersect. The exhibition presents stories that span millions of years—from ancient fossils and geological formations to cultural artifacts and scientific breakthroughs—inviting visitors to reflect on their own sense of place. By pairing natural specimens with cultural objects, From These Lands demonstrates how huma
Cartilage Tissue Engineering Heads to Orbit in NSF and NASA-supported Study at the International Space Station29.6.2026 15:00:00 EEST | Press release
Researchers in the DELTAi Lab at the University of California, Irvine, working with NASA, are using Evercode Cell Fixation to preserve samples aboard the International Space Station as part of a study of cartilage tissue engineering in microgravity. The unprecedented work, part of a National Science Foundation (NSF)-funded grant led by Dr. Wendy Brown and Dr. Kyriacos Athanasiou, announced today by Parse Biosciences, aims to advance treatments for the hundreds of millions of people worldwide affected by cartilage injury. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629548658/en/ Rachel Nordberg, PhD, from the DELTAi Lab at UC Irvine, prepping the BioServe device before it goes into orbit. Cartilage injuries cause significant pain and disability, and the need for implants that can repair or regenerate damaged tissue without harming a donor site has gone unmet for decades. Part of the difficulty is gravity itself, which m
Court Clears Biocytogen’s RenNano ® in Landmark Patent Dispute Against Harbour29.6.2026 14:55:00 EEST | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. ("Biocytogen," SSE: 688796; HKEX: 02315) today announced that it has received a first-instance civil judgment from the Shanghai Intellectual Property Court. The court ruled that Biocytogen did not infringe the relevant patent rights asserted by the plaintiff, Harbour Antibodies BV ("Harbour"), and ordered the plaintiff to bear the litigation costs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260629347368/en/ Court Clears Biocytogen’s RenNano® in Landmark Patent Dispute Against Harbour The judgment marks a significant first-instance outcome in the litigation and further affirms the independent innovation and intellectual property compliance of Biocytogen's core technology platforms. It also provides greater clarity for existing and prospective partners evaluating the RenNano® platform, reinforcing confidence in the Company's technology platforms and long-term innovation capabi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom