- 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.
UK regtech GSS lands £37m in Series A2 funding round
Hot this week
Blogs
Banking as a Service: Meaning, Examples, Benefits and Future
The push for open banking has led to a...
Blogs
Best fintech blogs and websites
Fintech (financial technology) has been an interesting part of...
Blogs
Is it worth investing in life insurance over 60?
Is it worth investing in life insurance over 60?
As...
Topics
Banking
Lithuania’s Finbee Verslui lands €35m investment from Pollen Street Capital
Key Points:Investment Details:Finbee Verslui has secured a...
Banking
Morgan Stanley buys stake in UK business payments start-up Sokin
Key Points:Acquisition Details:Morgan Stanley has acquired a...
Banking
New wealthtech start-up Waltz launches US real estate investment platform
Key Points:Launch Objective:Enable foreign investors to invest...
Banking
HSBC India partners with Open Financial Technologies to launch FinConnect for business clients
Key Points:Partnership Objective:Simplify payment processes for HSBC's...
Banking
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Key Points:Objective:Ensure "reasonable access" to cash deposit...
Banking
Social trading app Shares set to exit UK market
Key Points:Market Exit:Shares is set to exit...
Banking
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
Key Points:Acquisition Agreement:UniCredit has signed a binding...
Banking
Kenya’s Diamond Trust Bank taps Network International for digital payment solutions
Summary of Diamond Trust Bank (DTB) and Network International...