Ancoa, a FinTech startup providing contextual surveillance and analytic insights for exchanges, regulators, buy-side and sell-side firms, has now raised initial financing of £4.1 million.

Investors in the Series A funding round included Buysse & Partners, LRM Capital, SmartFin Capital, Velocity Capital and Ancoa’s management team, as well as a number of high net worth individuals.

Since launching two years ago, Ancoa’s client base has grown to include exchanges, brokers and investment companies such as the Zagreb Stock Exchange, the New York-based SEF LedgerX and Linear Investments. Over the past 12 months, the startup has also signed collaboration agreements with Cinnober and N2N Connect, to provide surveillance tools to banks and brokerage firms globally.

Ancoa has expanded its operations to cover new asset classes including energy and commodities, fixed income, crypto-currencies and derivatives. The latest funding will enable the company to expand internationally, widen its footprint and increase the team to 40 staff by 2016.

Kurt Vandebroek, chief executive officer of Ancoa, said: “We are absolutely delighted with the vote of confidence from all our investors. We are encouraged by their support of our expansion plans and also in building partnerships with industry and regulators, to bring our contextual approach to surveillance to more capital market participants. At a time when regulatory pressures to detect and deal with market abuse are ever-increasing, we will continue to invest in our team and our technology to ensure that our clients can meet their regulatory obligations with confidence.”

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