RegTech Provider Compliance.ai Announces $6 Million Investment, New CEO
The new investment comes two years after the company also secured $3 million from Cota Capital in a November 2020 Series A funding round
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San Francisco founded RegTech provider Compliance.ai, announced it had secured $6 million in funding from existing investor Cota Capital and new investor JAM FINTOP. The new investment comes two years after the company also secured $3 million from Cota Capital in a November 2020 Series A funding round.
In addition to the new capital infusion, Compliance. ai also announced it appointed Asif Alam as its new CEO, replacing former CEO and co-founder Kayvan Alikhani, who will now serve as the company’s chief product/strategy officer. Launched in 2016, Compliance.ai provides a regulatory change management platform that looks to help financial industry enterprises identify and respond to regulatory changes in their market.
In a press release announcing the investment, Compliance.ai said that it is focusing on “growth and expansion,” noting that it recently announced the expansion of its tool to over 25 countries globally. RegTech solutions are becoming increasingly vital for many organizations, given the growing regulatory focus on emerging financial markets such as NFTs and cryptocurrency, among other areas.
