cleversoft, a Munich, Germany-based regtech software specialist, received an investment from Main Capital.
The amount of the deal was not disclosed.
The company intends to use the funds for add-on acquisitions in order to expand into adjacent market segments as well as for further internationalization.
Founded in 2004 by and led by Florian Clever, Cleversoft provides SaaS based regtech software platforms for financial institutions to comply with regulatory challenges in the financial industry.
The company, which has 80 plus employees, supports globally-acting banks, asset managers and insurers to tackle regulatory challenges under regimes such as PRIIPs, MiFID II, PIB, FIDLEG and AML-regimes. The services for these regulations are underpinned with lifecycle management solutions including customer relations (CRM) and marketing processes.
It currently serves over 200 international customers.