UK regtech GSS lands £37m in Series A2 funding round

  • London-based regtech Global Screening Services (GSS) has secured around £37 million ($47 million) in a Series A2 funding round.
  • This round follows an initial £37 million cash injection in January 2023.
  • Returning investors AlixPartners, The Cynosure Group, and MUFG participated in the Series A2 round, along with new investor Commonwealth Bank of Australia (CBA).
  • John Fogarty, CBA’s executive general manager of financial crime compliance, will join GSS’s board as part of CBA’s investment.
  • CBA aims to potentially utilize GSS’s technology to prevent sanctioned parties from accessing and moving money into or out of Australia, as well as to expedite international payments for its customers.
  • Founded in 2021 and initially incubated by AlixPartners, GSS provides a transaction screening platform to help financial institutions strengthen and streamline sanctions compliance processes.
  • The new funding coincides with GSS’s transition from the development phase to the operational phase, as it prepares to onboard its inaugural clients.
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

Salmon Strengthens Fundraising for Philippines Expansion

Fintech company Salmon secures new funding to enhance its operations in the Philippines.Highlights: Salmon raises significant funds to...

Truist Pilots Zelle Bill Payments, Strengthening Digital Banking Services

New pilot program aims to simplify bill payments through Zelle for customers.Highlights: Truist launches pilot program for Zelle...

ACI Worldwide Strengthens Payment Solutions with Cloud-Native Platform

New platform enhances support for eight U.S. payment networks.Highlights: ACI Worldwide launches a cloud-native payment platform.The platform supports...

LendingClub Rebrands as Happen Bank, Strengthens Digital Banking Services

The transformation aims to enhance customer engagement and streamline services.Highlights: LendingClub officially rebrands to Happen Bank.The rebrand focuses...