Compliance Firm Surveill Wants to Expand Through Acquisition

Surveill, which has built a compliance-centric artificial intelligence (AI) system for the financial services industry, is looking to acquire a compliance consulting firm, only about a month after it raised $1 million in external funding.

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Expansion via Acquisition

Surveill’s Founder and Chief Technology Officer, Aydin Bonabi, stated in a LinkedIn post that his company is looking to acquire a compliance consulting firm with 5 to 20 consultants.

“Together, we can transform the way firms deliver compliance services by reducing costs while raising quality and consistency,” he wrote.

Bonabi will speak at the Finance Magnates London Summit next month in the panel “Negative Friction? Brokers between Tougher Demands & Regulatory Arbitration.”

The company is planning an expansion as demand for regulation has increased globally. In the financial services industry alone, jurisdictions are introducing new rules and revising existing ones, thereby increasing the demand for regulatory consultation.

Furthermore, crypto regulation in the European Union and the United States has also raised the requirements for regulatory consultation.

“For too long, compliance consulting has been synonymous with high costs and low scalability,” Bonabi added. “In an era where even Amazon is shedding 30,000 employees, the need for more efficient, tech-driven compliance models has never been clearer.”

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AI in Compliance

Headquartered in the US, Surveill offers AI-powered solutions that help financial institutions enhance compliance oversight, reduce costs, and improve regulatory responsiveness.

The company claims its clients have reported up to 60 per cent time savings and as much as 60 per cent cost reduction, alongside improved risk visibility and regulatory oversight.

Last month, Bonabi confirmed that Surveill raised about $1 million in an external funding round led by Simya VC, a subsidiary of 212 VC. Although the founders initially decided to bootstrap the company, they eventually chose to seek external funding to access “more resources.”