ClauseMatch, a London, UK-based RegTech startup, raised $2.5M in venture debt funding.
Silicon Valley Bank provided the funding.
The loan package will be allocated to support the company’s continued growth in Europe and Asia.
Led by Evgeny Likhoded, CEO and founder, ClauseMatch automates compliance workflow across the thousands of documents used by compliance, legal, finance, operations and risk departments to provide a comprehensive audit trail and demonstrate the state of compliance with the regulatory landscape.
The company’s solution applies deep understanding of the regulatory lifecycle and machine learning to standardize and automate processes and workflows across teams, reducing costs, speeding up implementation and demonstrating compliance to regulators.
ClauseMatch is already working with several global financial institutions, including Barclays and Revolut, the digital-only bank. It recently started operations in South East Asia, out of Singapore, and is already serving clients with a presence in the region.
The company is a graduate of TechStars Barclays Accelerator programme in 2014.