UK RegTechs FundApps and SteelEye have merged to create a unified platform that integrates surveillance, monitoring, reporting, and analytics for both buy-side and sell-side institutions.
The merger will serve 350 clients, including banks, asset managers, hedge funds, and commodities firms across 18 countries, with a combined Annual Recurring Revenue nearing £50 million. The companies maintain offices in London, New York, Singapore, India, and Portugal.
This consolidation follows FTV Capital’s initial growth equity investment in FundApps earlier this year, supplemented by an additional investment to facilitate the merger.
Andrew Patrick White, founder and CEO of FundApps, stated, “By combining our complementary strengths in reporting, monitoring, and surveillance, we are creating a single platform that addresses the full compliance lifecycle and unlocks new capabilities for our clients. While many providers depend on various, loosely connected systems, we are building a unified ecosystem that simplifies regulatory complexity at scale, delivering the comprehensive solutions the market demands—all from one trusted partner.”
The financial terms of the transaction have not been disclosed.