Compliance business SteelEye has raised $10mn in Series A funding.
The round was led by Eight Roads’ FinTech Strategic Investments.
Illuminate Financial also invested.
This brings total raised up to $20mn.
What does this mean?
SteelEye was established in October 2017 to enable firms to manage their compliance through one platform. The investment by Eight Roads is not only significant in terms of capital – the tech company has expressed excitement to work with the investor due to its “significant experience” and “distribution potential”.