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
Suzano Reports 36% Increase in Third Quarter Net Revenue Following Consolidation of Arbex6.11.2026 01:23:00 EET | Press release
Suzano (B3: SUZB3 / NYSE: SUZ) , the world’s largest pulp producer, announces its results for the third quarter of 2026 (3Q26), which for the first time include Arbex, the joint venture between Suzano and Kimberly-Clark established in July this year. Driven primarily by the consolidation of Arbex’s contribution, Suzano reported net revenue of BRL16.5 billion, an increase of 36% on the same period last year and a new quarterly record in the company’s 102-year history. Adjusted EBITDA totaled R$5.7 billion in 3Q26, up 9% on the same basis of comparison. Operating cash generation reached R$3.8 billion, an increase of 12%. Net income totaled R$2.1 billion. As announced following the completion of the transaction with Kimberly-Clark, Suzano holds a 51% equity interest in Arbex and will therefore fully consolidate the joint venture’s financial statements from this quarter onwards.1 “This quarter marks the beginning of a new phase for Suzano. With Arbex, we are now a broader business, both ge
iQmetrix Unveils Built-In Intelligence for Every Role in Telecom Commerce at Its 2026 Telecom Industry Address5.11.2026 23:39:00 EET | Press release
iQmetrix, the global provider of Intelligent Commerce Operating Systems for telecom, last week shared highlights from its 2026 Telecom Industry Address and Product Announcements, held virtually on Oct. 28 in two sessions, one for North American audiences and one for European audiences. The address was built around one theme: intelligence. Telecom commerce is moving from systems that record the business to systems that act on it, and the announcements put that intelligence in the hands of every role, from the sales associate at the counter, to the finance manager in the back office, to the corporate view leading the channel experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105003162/en/ "Right now telecom providers are competing in a race to the bottom on price that no one wins. The way out is intelligence. Not AI bolted onto a fragmented tech stack, but intelligence built into how commerce runs. Information plus
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.11.2026 23:30:00 EET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to nine newly hired non-executive employees. The equity awards were granted on November 2, 2026, and consisted of options to purchase an aggregate of 59,275 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 28,200 shares. These options have an exercise price per share equal to $8.41, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted s
Graco QUANTM i230 Brings Electrification to High-Flow Fluid-Transfer Applications5.11.2026 23:16:00 EET | Press release
Graco Inc. is helping manufacturers electrify high-flow fluid-transfer applications with the global launch of the 3-inch QUANTM® i230, bringing efficient electric drive technology to demanding processes that have traditionally relied on pneumatic pumps. Paint, coatings and ceramics manufacturers depend on diaphragm pumps for their flexibility, reliability and ability to handle challenging materials. But pneumatic pumps also depend on compressed air — an energy-intensive plant resource whose available capacity can fluctuate as demand changes across a facility. The QUANTM i230 gives manufacturers another option for qualified high-flow applications. By combining familiar diaphragm pump capabilities with electric operation, the pump helps manufacturers move more material, reduce transfer bottlenecks and lower energy consumption by up to 80% compared to pneumatic pumps, while maintaining operating flexibility. “High-flow processes in industries like paint, coatings and ceramics have continu
ThetaRay Named World’s Best Software Provider for AML and Sanctions Screening in the 2026 Euromoney Transaction Banking Awards5.11.2026 20:30:00 EET | Press release
ThetaRay, a global leader in AI-native financial crime compliance infrastructure, has been named The World’s Best Software Provider for AML and Sanctions Screening at the 2026 Euromoney Transaction Banking Awards. Evaluated by Euromoney’s editorial and research team, ThetaRay was recognized for technology excellence, verifiable performance, and advancing the modern transaction banking value chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105714764/en/ The recognition reinforces ThetaRay’s standing as foundational compliance infrastructure for global institutions, closely following Chartis Research ranking ThetaRay #8 globally in the Financial Crime and Compliance50 (FCC50) 2026 report and naming the company a Category Winner for Explainable AI. “Our customers operate on the front lines against illicit networks exploiting the speed and scale of modern payment rails, which means defensive technology must meet and outp
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