Droit secures $23 million in Series B funding to expand into wealth management with innovative products and strategic partnerships

Droit, a US-based RegTech firm, has raised $23 million in Series B funding. The investment was led by Pivot Partners and UBS, with support from existing investor Goldman Sachs. The funds are expected to be used to develop new products as part of the company’s expansion into the wealth management market.

Droit’s Adept platform is primarily used in the capital markets sector for pre- and post-trade decision making and auditability. With the new investment, the company will be able to expand its services into wealth management by developing products that focus on cross-border and product suitability decision making.

Brock Arnason, the founder and chief executive officer of Droit, stated, “This funding will allow us to expedite the innovation of our new product lines.” He further added that the finance would facilitate the expansion of current products, including Position Reporting, Transaction Reporting, new cloud-based services, and improvements in the firm’s Pre-Trade product suite.

As part of the investment, Droit will also collaborate with UBS Next’s portfolio of fintech companies to develop wealth management capabilities.

Interest in and support for RegTech are increasing

The latest investment is a clear indication of the ongoing interest and support for RegTech firms in the current market. The RegTech sector is rapidly growing, with the industry projected to reach US $16 billion by 2025. Regulators in multiple countries are actively seeking improved supervisory technologies and compliance procedures to provide greater transparency and security to investors.

Droit’s Expansion into Wealth Management

Droit’s expansion into the wealth management sector marks a new phase in the company’s growth. With the latest funding, the firm is now better positioned to expand into high-volume businesses, such as wealth management, which require advanced systems to track regulatory rules and address the complexities of regulatory compliance.

“Through our partnership with UBS Next, we see an excellent opportunity to provide unprecedented levels of automation to help wealth managers address regulatory challenges and reduce their costs and risk,” noted Arnason.

Droit’s new investment is expected to propel the firm to new heights as it embarks on a journey to develop novel products and establish strategic partnerships with industry leaders. The expansion into the wealth management sector exemplifies the potential growth opportunities in the RegTech industry. Companies like Droit are fundamental to the success of various financial institutions, facilitating real-time regulatory compliance while simplifying the complex compliance rules. Going forward, we anticipate the sector to thrive as numerous firms emerge, assisting companies to cope with the mounting regulatory compliance challenges.

Explore more

Can Federal Lands Power the Future of AI Infrastructure?

I’m thrilled to sit down with Dominic Jainy, an esteemed IT professional whose deep knowledge of artificial intelligence, machine learning, and blockchain offers a unique perspective on the intersection of technology and federal policy. Today, we’re diving into the US Department of Energy’s ambitious plan to develop a data center at the Savannah River Site in South Carolina. Our conversation

Can Your Mouse Secretly Eavesdrop on Conversations?

In an age where technology permeates every aspect of daily life, the notion that a seemingly harmless device like a computer mouse could pose a privacy threat is startling, raising urgent questions about the security of modern hardware. Picture a high-end optical mouse, designed for precision in gaming or design work, sitting quietly on a desk. What if this device,

Building the Case for EDI in Dynamics 365 Efficiency

In today’s fast-paced business environment, organizations leveraging Microsoft Dynamics 365 Finance & Supply Chain Management (F&SCM) are increasingly faced with the challenge of optimizing their operations to stay competitive, especially when manual processes slow down critical workflows like order processing and invoicing, which can severely impact efficiency. The inefficiencies stemming from outdated methods not only drain resources but also risk

Structured Data Boosts AI Snippets and Search Visibility

In the fast-paced digital arena where search engines are increasingly powered by artificial intelligence, standing out amidst the vast online content is a formidable challenge for any website. AI-driven systems like ChatGPT, Perplexity, and Google AI Mode are redefining how information is retrieved and presented to users, moving beyond traditional keyword searches to dynamic, conversational summaries. At the heart of

How Is Oracle Boosting Cloud Power with AMD and Nvidia?

In an era where artificial intelligence is reshaping industries at an unprecedented pace, the demand for robust cloud infrastructure has never been more critical, and Oracle is stepping up to meet this challenge head-on with strategic alliances that promise to redefine its position in the market. As enterprises increasingly rely on AI-driven solutions for everything from data analytics to generative