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TCA advises FundApps on significant growth equity investment from SEP

May 1, 2021

TCA has advised FundApps, one of the world's most successful Regulatory Technology (RegTech) companies, on a significant growth equity investment from Scottish Equity Partners (SEP)

As the first ever Compliance-as-a-Service (CaaS) business, FundApps has transformed the way investment managers deal with the regulatory burden by combining cloud technology, regulatory expertise, market data and the unique FundApps Community.

Today, FundApps has over 100 clients, ranging from hedge funds, asset managers, and pension funds, to the world’s largest sovereign wealth funds. Collectively, FundApps’ services monitor over US$13 trillion, more than 10% of global assets under management.

TCA, led by Rob McCombie, worked with FundApps over an extended period to help the business raise capital, addressing the complexities and challenges of investment rounds that can otherwise be difficult for founders and teams to deal with alone. It provided full transaction support, deal execution, and advised on both the investment and equity terms.

Andrew Patrick White, founder and CEO of FundApps, said:

“Having bootstrapped our way since 2010, we wanted to find an investor who shared our long-term vision and was a cultural fit. TCA understood this and quickly developed a trusted relationship with the entire team, helping to guide us at every stage of the process.”

Angus Conroy, Director at SEP, added:

“TCA’s deep sector knowledge and direct investment experience was clearly demonstrated during the investment process. They provided management with highly engaged support and adopted a constructive and pragmatic approach with SEP and its advisors.”

SEP's investment will allow the company to continue to drive product innovation and support further expansion of the international client base, as well as providing liquidity for the current shareholders and employees.

ABOUT FUNDAPPS

Since 2010, FundApps has been committed to making compliance simple. With a vast rule library and a dedicated in-house legal and regulatory team, FundApps enables compliance teams to respond more efficiently to regulatory change, increase certainty and reduce complexity in the compliance process.

With offices in London, New York and Singapore, the company monitors over US$13 trillion in client assets with 1000+ users from compliance teams at asset managers, hedge funds, pension funds, sovereign wealth funds and banks around the world. To learn more, visit http://www.fundapps.co.

ABOUT SCOTTISH EQUITY PARTNERS

Scottish Equity Partners (SEP) is one of Europe’s leading and most experienced technology growth equity firms, helping founders and management teams to achieve their global ambitions. Providing investment alongside expertise and access to an international network, SEP works closely with the companies it invests in to maximise business growth and value. SEP is a signatory to the UNPRI, the world’s leading proponent of responsible investment. For further information see http://www.sep.co.uk.

ABOUT TCA

TCA provides independent M&A advice to high growth tech companies and financial services businesses, applying a deep understanding of technology.

We combine over 15 years in direct investing across both early and late-stage investments with a strong background in technology development, allowing us to work closely with teams across the capital structure, including venture capital, growth/development capital, private equity, and debt.

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