SteelEye secures $10m in growth capital in round led by Eight Roads
Summary
SteelEye was established in October 2017 to reduce the complexity and cost of compliance and to enable financial firms globally to manage their regulatory obligations through a single platform. Following the introduction of these significant regulatory frameworks, authorised firms globally have come under increased pressure to store and reproduce their data, actively monitor their operations and report on financial dealings. However, due to the number of different mandates and the silo nature of most financial systems and platforms, many firms have struggled with their growing compliance requirements and costs have increased year-on-year. This has traditionally been difficult to do on a consolidated basis and represents a considerable opportunity for firms to gain a truer understanding of their business, make better decisions and ultimately improve their performance. “Since we invested in SteelEye’s late seed round, they have continued to fit perfectly in Illuminate’s Enterprise FinTech focused portfolio, providing a centralised and infinitely scalable data solution for financial institutions.