Member Article

RegTech startup eyes global growth after closing seven-figure Series A round

London-based telecoms software business, VoxSmart, has closed its Series A funding round led by investment firm Deepbridge Capital.

The RegTech firm has raised $7m (approx. £5.6m) in a round led by the Chester-based technology investors with contributions from unnamed senior capital markets executives.

Utilising its proprietary VSmart software, VoxSmart works with businesses to help them achieve regulatory compliance by recording all their mobile communications, with its system able to record voice calls, SMS, voice mail and instant messaging across any network.

Commenting on the latest funding, Oliver Blower, Chief Executive Officer commented: “We understand our clients need one global solution to not only manage risk but also to ensure their users can maximise P&L through uninhibited mobility.

“We have a number of large financial institutions rolling out VSmart and this investment will help us cement our footprint in capital markets and build out our global presence.”

The business has said it will utilise the seven-figure funding to support the roll-out of its global infrastructure, which it aims to have in place before new global regulator guidelines come into force in 2018.

Ian Warwick, Managing Partner at Deepbridge Capital, said the investors were ‘delighted’ to be working with VoxSmart, and that the tech firm represented an ‘exciting global growth opportunity’.

He said: “Specialising in providing exciting investment opportunities to private investors, it is important that we work with innovative companies that have the potential for global scalability.

“VoxSmart meets all of our stringent investment criteria and is the latest disruptive technology to join our portfolio of companies which qualify for the potential tax reliefs available to UK investors via the Enterprise Investment Scheme.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →