Droit Raises $23 Million in Series B Funding to Expand U.S. Regtech Business

The world of financial technology, or “fintech”, is rapidly evolving. With the rise of digital banking, mobile payments, and cryptocurrency, the need for innovative solutions to help businesses stay compliant with regulations is greater than ever. Droit, a leading provider of regulatory technology (“regtech”) solutions, recently announced that it has raised $23 million in Series B funding to expand its U.S. business.

Droit is a cloud-based platform that helps companies manage their regulatory compliance requirements. It provides an automated system that allows businesses to quickly and accurately identify and manage the regulations that apply to them. The platform also provides detailed analytics and reporting capabilities to help companies stay on top of their compliance obligations.

The new funding will be used to expand Droit’s presence in the U.S. market. The company plans to use the funds to hire additional staff, develop new products and services, and increase its marketing efforts. Droit also plans to use the funding to launch new partnerships with financial institutions and other regtech providers.

The Series B funding round was led by venture capital firm Accel, with participation from existing investors including Index Ventures, Balderton Capital, and Notion Capital. This brings Droit’s total funding to date to $37 million.

The regtech industry is growing rapidly, as businesses of all sizes are recognizing the need for automated solutions to help them stay compliant with regulations. Droit’s Series B funding will help the company expand its presence in the U.S. market and provide more businesses with the tools they need to stay compliant. With this new funding, Droit is well-positioned to become a leader in the regtech space.

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• Source: Plato Data Intelligence: PlatoAiStream