Seismic Foundry fintech fund invests in second capital markets startup

Source: Seismic Foundry

Seismic Foundry closed its second investment this week, acting as lead investor in a RegTech start-up called Enforcd, which uses technology to aid regulatory compliance.

Their flagship product is EDB, The Enforcement Database, uses global regulatory enforcement data, related news and insights to help firms to identify, manage and mitigate the conduct risks they face. Thy aggregate all the facts to enable contextual analysis of enforcement activity using their in-house developed algorithms to create a unique and highly intuitive service. Their relevance has been proven by acceptance into the Bank of England FinTech Accelerator and Accenture FinTech Innovation Lab last year and they are currently actively engaged in the Hong Kong SuperCharger FinTech Accelerator while working on a number of paid Proof of Concepts and securing their first batch of clients licensing the platform in this quarter.

“Enforcd is delighted to have secured investment from the leading industry figures who make up Seismic Foundry. They really understand our space and the potential of our global regulatory intelligence platform. Seismic’s input on our strategy and model will help us to scale effectively, bringing the power of Enforcd to many more people in regulated firms across the world. At a time when the focus on personal accountability has never been higher, Enforcd is well placed to help managers and staff learn from the lessons of the past and keep up to date with an ever more complex and fast moving regulatory environment,” said Jane Walshe, Co-Founder and CEO.

Cathy Lyall, a Co-founder of Seismic Foundry, commented, “Seismic are thrilled to have added Enforcd as the second investment to the fund, not only as a valuable addition to the future performance of the fund but also as they seek to help firms improve culture, conduct and outcomes for market participants, which is a core value promoted by Seismic within all of our portfolio companies. In addition, we are pleased to be joined by a strong list of co-investors that have relevant experience in the capital markets space.”

The Seismic Foundry Capital Markets FinTech SEIS Fund 2017-18 closed for investments at the end of February 2018 and will make announcements on a further two investments in the coming weeks before the end of March 2018. They have already started the process of raising funds for next year’s funds which should include both an SEIS (seed level) and EIS (growth) fund.
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