UBS invests in regtech expanding into wealth management
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Fintech

UBS invests in regtech expanding into wealth management

Droit helps traders decide in milliseconds if deals comply with the ever-changing rules and aims to do the same for wealth managers.

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Photo: iStock

It is a tough time for fintechs seeking to raise new money, as institutional investors in growth and late-stage venture capital brace to deliver much lower marks to their limited partners than when they last bought into the supposed winners in payments, remittances, sub-prime credit and other markets.

But it can still be done. And one corner of the financial markets that remains in permanent growth mode is compliance with ever-increasing regulations.

On Tuesday, Droit, a 10-year-old regtech company founded by former traders and whose technology can decide in milli-seconds how any trade a bank wants to put on in any jurisdiction with a given counterparty fits against the ever-expanding mesh of regulations, closed a $23 million investment in its latest series-B funding round.

UBS is the anchor investor in a round that will provide Droit with funds to recruit technologists, product managers and knowledge engineers to expand a business originally designed to serve wholesale capital markets into wealth management.

Brock


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