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

Time Stamp: March 7, 2023 1:43 PM
Source Node: 1997555

Droit, a leading provider of regulatory technology (Regtech) solutions, recently announced that it has raised $23 million in Series B funding. The funding round was led by Insight Partners, with participation from existing investors including Nexus Venture Partners and Omidyar Network India. This brings Droit’s total funding to date to $31 million.

The new funding will be used to expand Droit’s Regtech solutions in the United States. Droit’s Regtech solutions are designed to help organizations comply with complex regulations and reduce the costs associated with regulatory compliance. The company’s platform provides a comprehensive suite of tools, including automated document generation, compliance monitoring, and data analytics.

Droit’s platform is already being used by leading financial institutions, including banks, insurance companies, and asset managers. With the new funding, Droit plans to expand its customer base in the U.S. and further develop its platform to meet the needs of its customers.

Droit CEO and co-founder, Anand Bhushan, commented on the new funding: “We are thrilled to have Insight Partners join us as we continue to expand our Regtech solutions in the U.S. We believe that our platform can be a powerful tool for organizations to reduce their regulatory compliance costs and improve their efficiency. We look forward to working with Insight Partners and our existing investors to continue to build a world-class Regtech platform.”

The Regtech market is expected to grow significantly over the next few years as organizations look for ways to reduce their regulatory compliance costs. Droit’s platform provides a comprehensive solution that can help organizations stay compliant while reducing costs. With the new funding, Droit is well-positioned to capitalize on this growth and expand its Regtech solutions in the U.S.

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