Deutsche Börse, Illuminate invest $5 million in startup RegTek.Solutions

Regulatory reporting software vendor receives $5 million Series A investment from Frankfurt exchange and capital market specialist Illuminate Financial Management

Illuminate Financial Management and Deutsche Börse together have provided RegTek.Solutions, a provider and specialist in global regulatory compliance software for trade and transaction reporting, with a US$5 million Series A funding round investment.

New York-based startup RegTek.Solutions was launched earlier this year by Risk Focus a risk and regulatory services firm. It markets compliance software Report-It, which it says provides regulatory reporting solutions for financial firms by boosting quality, transparency and control across different asset classes and jurisdictions, including foreign exchange and commodities trading, credit, interest rates, equities and OTC swaps.

The investment will be managed by DB1 Ventures, the venture capital arm of Deutsche Börse, in return for a joint minority stake in the provider. Managing director of DB1 Venture and Venture Portfolio Manage, Ankur Kamalia, said: “In the new regulatory landscape, RegTek.Solutions has established itself as a reliable service provider with deep insight of regulatory topics.The investment will help us deepen our relationship with RegTek.Solutions and enable the firm to service clients required to validate, report and reconcile trade data.”

Brian Lynch, CEO of RegTek.Solutions, said: “We are seeing strong demand across the market for outsourced trade reporting tools that provide assurance and transparency around data quality, completeness and accuracy.” He adds that receiving the financial backing from capital market specialists Illuminate Financial and Deutsche Börse validates the firms offering of and will effectively scale the business and provide future growth.

Mark Beeston, managing partner from Illuminate Financial, and Holger Wohlenber, managing director and head of market data and services from Deutsche Börse, will take non-executive board member positions at RegTek.Solutions.

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