Irish RegTech Fenergo hits $1bn valuation

Fenergo, a Dublin-based FinTech, has achieved unicorn status after selling a $600 million stake in its business.

The RegTech, founded in 2009, provides regulatory compliance solutions for KYC and AML and claims to work with 32 of the 50 largest banks globally, including Credit Suisse, UBS, and Santander.

Fenergo currently employs around 1,000 people across 14 offices.

The deal valued the company at $1.17 billion, according to sources reported by the Irish Times.

This makes Fenergo the third unicorn that Ireland has produced to date, alongside messaging platform Intercom and human capital management (HCM) vendor Workhuman.

The stake was purchased by UK private equity (PE) firm Bridgepoint, who focus on mid-level businesses and recently owned Pret a Manger, and French PE firm Astorg.

The stake was previously owned by Insight Venture Partners, who invested $75 million in Fenergo in 2015, and B2B IT firm DXC.

Chief executive Marc Murphy, who has a 10 per cent stake in the RegTech, has reportedly reinvested his earnings from the sale.

The news comes after the company raised $80 million at a valuation of around $800 in February 2020.

RegTech continues to be a large and growing market internationally. KMPG research has estimated that financial institutions spent $270 billion annually on compliance in 2018, and that $76 billion will be spent on RegTech by 2022 - up from $10.6 billion in 2017.

    Share Story:

Recent Stories


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.