Northern Irish RegTech raises £1.2m
Written by Peter Walker
Datactics has raised £1.2 million in a funding round led by Kernel Capital and Par Equity.
The Belfast-based RegTech startup provides data quality and matching software to the financial services industry and government departments to help measure, clean and match data.
The company has grown significantly since its initial investment in 2018, with 12 new hires and the opening of new offices in Milan and New York. This latest funding round will help facilitate research and development, alongside the hiring of additional key personnel, as the customer base builds across Europe and the US.
This is the second investment secured from the Bank of Ireland’s Kernel Capital Growth Fund. The fund was designed to help small businesses in Northern Ireland accelerate their growth.
“As a banking partner to many businesses, we know businesses have been investing for the future, and this investment supports Datactics in further accelerating their scaling ambition through new product development to increase their competitiveness and successful expansion into international markets,” said Gavin Kennedy, head of business banking at Bank of Ireland.