Taina Technology, a London-based financial services compliance startup, has raised an undisclosed sum for its latest round of funding, FinExtra reports.
The deal sees a strong corporate showing with participation from two big banking CVCs - HSBC Asset Management and Deustche Bank CVC - as well as SIX FinTech Ventures and Anthemis.
Taina's AI-driven RegTech software integrates with a financial institution's back-end IT to validate their tax affairs in line with evasion prevention protocols both in the US and globally.
The new funding is expected to expand the platform's regulatory coverage and add more geographies and market segments, as Taina looks to address increased demand from financial institutions under "growing cost pressure."
The startup, which was founded in 2016 and secured A-Teams Regtech Insight's award for best tax compliance last year, is looking to scale up in 2023 with the addition of more regulatory compliance solutions.