UBS Next and Goldman Sachs invest in Regtech Company Droit

Droit, a New York-based technology firm at the forefront of data law and regulation, announced that it has closed a $23 million Series B investment in its latest funding round.

The round was led by Pivot Investment Partners and UBS through its venture and innovation unit UBS Next. Goldman Sachs, an existing investor, is also participating in the funding round.

Since its founding in late 2012, Droit has established itself as a technology provider advancing global regulatory compliance in the capital markets space, with its patented Adept platform now used by the world’s largest financial institutions for decision-making and pre- and post-trade audits. .

The investment will support Droit’s expansion into wealth management through the development of new products specific to the sector, including Cross Border and Product Suitability. This natural extension of the Adept platform for use in wealth management will allow financial institutions to benefit from the same transparent decision-making infrastructure used for capital markets. The investment will also support Droit’s expansion of new and existing products, including position reporting, transaction reporting, advancements in Droit’s Pre-Trade product suite and the development of new cloud-based services.

Brock Arnason

“This year marked Droit’s 10th anniversary and we greatly appreciate the support of our investors and their confidence in our future success. This funding will enable us to accelerate the innovation of our new product lines,”

said Brock Arnason, founder and CEO of Droit.

“We are also delighted to join UBS Next’s portfolio of fintech companies and look forward to working with them to build out our wealth management capabilities.”

Mike Dargan

“We believe Droit’s capabilities will help businesses unlock potential revenue streams by simplifying and driving real-time regulatory compliance,”

said Mike Dargan, Chief Digital & Information Officer, UBS.

“Through this investment, we will work with Droit to build out their product offering to support the industry and look forward to expanding our relationship with them across our wealth management business.”

This funding round comes during a period of strong growth for Droit. Over the past two years, Droit commercialized four new product lines and increased headcount by nearly 70 percent, adding key leadership roles in business development and technology. Droit also expanded its global footprint by establishing a presence in Singapore to support existing clients and build new relationships in the region.

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