Suade Labs, global RegTech solutions provider, raises strategic funding led by tech investing pioneer Glenn Hutchins
PR93098
LONDON, Nov. 17, 2021 /PRNewswire=KYODO JBN/ --
The strategic investment will support growth and market expansion for the
ground-breaking RegTech firm.
Suade Labs, a globally recognised leader in financial and regulatory
technology, has raised a Series A funding round.
The fundraising was led by Glenn Hutchins, as well as other strategic
investors. As Chairman of North Island, Co-founder of Silver Lake and former
board member of the Federal Reserve Bank of New York, Glenn Hutchins brings a
wealth of experience to the Company in the financial and regulatory technology
space. Mr Hutchins will join the Company’s Board of Directors.
Eugene Ludwig, Founder and Chairman of Promontory Financial Group and the
former Comptroller of the Currency in the Clinton Administration, is joining
Suade as a special advisor. Other notable investors participating in the
funding round include Michael Corbat, former CEO of Citigroup; Tom Glocer,
former CEO of Thomson Reuters; Philippe Laffont, Founder of Coatue Management;
Joe Moglia, former Chairman of the board at TD Ameritrade; Randall Stephenson,
former Chairman and CEO of AT&T Inc and Lee Styslinger, Chairman and CEO at
Altec. Digital Currency Group, a leading investor in the digital currency
arena, also formed part of the Series A round.
"Suade is revolutionising regulatory reporting and is one of the most exciting
companies I have seen," said Mr Hutchins. "Its reporting solution and
simplified data standardisation approach accelerates and harmonises the
implementation of regulatory requirements. Suade is perfectly positioned to
drive the industry towards a more digitally focused future, and I am delighted
to be joining their Board to support them on the journey."
Suade Labs' trusted platform offers financial institutions around the world the
ability to automate and scale end-to-end regulatory reporting capabilities
through a data-centric approach. The RegTech pioneer, founded in 2014 by Diana
Paredes and Murat Abur, is transforming regulatory interpretation and delivery
through utilisation of the only open-source global regulatory data standard,
FIRE, and modern technologies such as machine learning and natural language
processing.
"The legacy technology solutions are unable to scale or meet the demands that
post-financial crisis regulation requires," said Mr Abur, Suade’s CTO. "Suade's
data-driven and technological approach to financial regulation makes a firm’s
regulatory reporting system a value-add investment rather than a costly
liability."
"When we founded the Company, we knew that the approach to solving large scale
regulatory harmonisation problems would require a large amount of groundwork
and the right kind of investor and support," said Ms Paredes, Suade’s CEO. "We
are pleased that after executing on our initial vision, we have developed
significant technological IP and are now driving the market forward as thought
leaders and agents for positive change. We are honoured by the support we have
received from this group of investors and their unparalleled experience in
leading, growing and advising businesses in technology, financial services and
beyond."
About Suade
Founded in 2014, Suade is a RegTech firm offering Regulation-as-a-Service to
automate regulatory reporting and compliance for financial institutions. Its
data-driven approach to regulation, as well as its use of innovative technology
such as natural language processing and machine-learning, has distinguished
Suade as a global leader in the industry. It has received numerous awards and
titles, including being recognised as a Global Innovator by the World Economic
Forum. Suade has the fastest system in the market. It services financial
institutions all over the world and operates globally in offices across the UK,
Europe, North America, and Asia.
Suade. Bridging the regulatory gap through modern technology - suade.org
For any press enquiries, please contact:
Corinne Jones PR and Comms
corinne@suade.org
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Source: Suade Labs
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