FundApps and SteelEye announced a merger, combining their expertise to build an all-in-one compliance platform. The integration aims to reshape how financial firms manage compliance by merging trade surveillance, data analytics, monitoring, and reporting into a singular solution.
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This integrated approach aims to provide clients with a unified way to manage the increasing complexity of global regulatory demands.
Bridging Gaps in Compliance with a Unified Platform
FundApps specializes in compliance monitoring and regulatory reporting, tracking assets worth trillions of dollars across multiple jurisdictions. SteelEye focuses on trade and communications surveillance, utilizing advanced algorithms to detect risks such as market manipulation.
Together, the two companies intend to eliminate the fragmentation caused by multiple disconnected systems. Their joint platform will provide end-to-end coverage of the compliance lifecycle, offering clients continuous oversight and control.
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The merger is supported by an additional equity investment from FTV Capital, which had earlier invested in FundApps. Representatives from FTV Capital have joined the FundApps board of directors, underscoring their commitment to the combined entity.
Backed by Strategic Investment and Expanding Global Reach
The enlarged company will serve approximately 350 clients, including banks, asset managers, hedge funds, and commodities firms, spread across 18 countries. With offices in London, New York, Singapore, India, and Portugal, the group anticipates combined annual recurring revenue nearing £50 million.
While financial terms were not publicly disclosed, advisory support for SteelEye came from Perella Weinberg Partners. The combined platform is designed to monitor and analyze trades, communications, orders, news, and market data, providing comprehensive insights.
Both companies leverage cloud-based technology and regulatory expertise to help clients reduce risk, proactively manage regulatory changes, and maintain compliance integrity at scale.
FundApps brings experience in monitoring over $30 trillion in assets, while SteelEye has developed algorithms that proactively detect compliance breaches. Their integrated model aims to enhance automation and transparency, addressing regulatory challenges more efficiently.
