Level39 member ClauseMatch secures $2.5m debt funding from Silicon Valley Bank
28th May 2019
Level39 member ClauseMatch has today announced a $2.5m debt funding from Silicon Valley Bank.
Following recent expansions into Singapore, ClauseMatch has closed its first debt funding round with SVB to support the company’s continued growth in Europe and Asia. The RegTech firm is already serving clients with a presence in the region.
Evgeny Likhoded, ClauseMatch CEO and founder, said “ClauseMatch’s growth has been driven by the need for a new approach to compliance as financial institutions struggle to navigate complex regulatory environments across countries where they operate. In the age when regulations are constantly changing, it is a perfect fit for the market experiencing increasing compliance pains that currently are addressed with manual processes.
Craig Fox, Vice President at Silicon Valley Banks UK Branch said: “We are delighted to be working with ClauseMatch, a company whose high-growth success story has excited us for a long time. As companies increasingly look to bring more automation to back-office operations, there is no doubt that there will be significant demand for ClauseMatch’s compliance platform.
The company already counts Barclays and Revolut as its clients and is looking for more expansion as it scales up.