Kore Labs Limited, a leading RegTech Software-as-a-Service (SaaS) platform based in London, has successfully raised nearly £2.4m in funding. The investment round saw participation from members of the Wealth Club under the Enterprise Investment Scheme (EIS).
The company, founded by a team with extensive experience in Financial Services and Innovation, plans to use the newly acquired funds to expand its operations and extend its business reach.
Kore Labs is helmed by CEO Sabrina Del Prete. The company provides an end-to-end product lifecycle management platform for financial services. Its unique offering helps financial firms streamline the complex and fragmented process of regulatory compliance by creating a digital audit trail across all products and functions via a single accessible dashboard.
The platform offers a range of benefits to different users within a financial institution. For senior managers, it provides regulatory oversight. For specialists, it serves as a cross-product management tool. Frontline users, meanwhile, can utilize it as a central product hub.
Kore Labs raises £2.4m for financial compliance platform.⚡️
— UKTN (@UKTNofficial) August 9, 2023
Kore Labs currently serves a blue-chip customer base, which includes several major banking groups in Europe. Despite its already impressive client roster, the company is poised for further expansion into new markets later this year. Remarkably, Kore Labs has been revenue-generating since its launch in 2019.
This recent funding round underscores the growing recognition of the vital role that technology can play in navigating the increasingly complex landscape of financial regulation. It also marks a significant milestone in Kore Labs’ journey towards becoming a globally recognized leader in RegTech solutions.