US RegTech Droit has secured $23 million in Series B funding, with Pivot Partners and UBS serving as co-leads, alongside existing investor Goldman Sachs.
The firm’s Adept platform is currently utilized in the capital markets for pre- and post-trade decision making and auditability. Droit plans to leverage this investment to expand into wealth management by developing new products tailored for the sector, focusing on cross-border and product suitability decision-making.
“This funding will enable us to accelerate the innovation of our new product lines,” said Brock Arnason, founder and CEO of Droit. “We are also excited to join UBS Next’s portfolio of fintech companies and look forward to partnering with them to enhance our wealth management capabilities.”
Additionally, the financing will support the expansion of new and existing products such as Position Reporting and Transaction Reporting, advancements in Droit’s Pre-Trade product suite, and the development of new cloud-based services.