London-based regtech and fintech startup ClauseMatch has raised £1.25 million. The investment was received from the Austria-based VC fund Speedinvest. SparkLabs Global Ventures and TechStars have previously invested in the startup.
ClauseMatch, which provides software-as-a-service for smart document management, plans to use the capital influx to scale its product globally.
The startup offers a document management platform tailored to the needs of banks and financial institutions. It has a browser-based collaborative editor, and all the comments, approvals, and changes are a part of a full audit trail, providing transparency for senior compliance officials.
“ClauseMatch is one of the exciting regtech companies which have a great product and a vivid potential to replace the outdated practices by bringing compliance ecosystem to a completely new level of efficiency," said Oliver Holle, CEO and Founder at Speedinvest. "We are excited to be part of this journey and work together with their excellent team on achieving this vision.”
Read more: Finextra