FRGF invests in cooperation with the partner VC e.ventures, XAnge and other business angels into Apiax, a Swiss RegTech company that provides its customers from the financial industry with a regulatory cockpit that legal and compliance teams can use to manage, review and apply new regulations.
The technology is based on machine learning and, as a cloud application, is independent of any infrastructure. The financing round will be used to drive forward the expansion of activities in Germany and here in particular in Hesse, the opening of a branch in Frankfurt am Main and the financing of ongoing operations.
"Banks, insurance companies and generally any kind of financial institution are facing ever increasing compliance and regulatory requirements. Requirements are becoming more complex, rules are changing, global networking is leading to mandatory compliance with different country regulations. As a result, significant cost positions within compliance and regulatory departments have been built up in recent years, with an upward trend. Apiax offers with its SaaS solution a comprehensive software for various regulatory processes and obligations thus enables a faster, more cost-effective and efficient handling of compliance issues“, said Benjamin Krahmer, Managing Director at FRGF.
.svg){kind=small}
