Ruleguard, a London, UK-based provider of a SaaS-powered RegTech platform, raised £3.5m in funding.
Foresight VCTs, Foresight VCT and Foresight Enterprise VCT, made the investment.
The company intends to use the funds to continue to develop additional platform capabilities while also scaling up sales and marketing.
Established by John O’Dwyer in 2013 as a software development consultancy, Ruleguard provides a specialized platform for regulatory compliance. Its solution enables customers to navigate the challenges of increasing regulatory compliance requirements while also enabling them to save money on audit compliance costs.
The company employs 34 staff, and serves over 50 clients, with recurring revenues over £2.7M and high double-digit growth year-on-year. Clients include leading asset managers, wealth managers, brokers, insurance firms and banks, including Computershare, Cazenove Capital, FNZ, Link Fund Solutions, Quilter Cheviot, Santander, True Potential, Rathbones and Royal London.