Brazil leads LatAm in 2022 RegTech deals

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Research highlight

Brazil stars as the most active RegTech country in Latin America during 2022

Overall, there were 12 RegTech deals in Latin America with Brazil taking the top spot for most active country in the region, accounting for 58% of RegTech transactions in 2022. CyberTech companies were the most active RegTech subsector in 2022 with four deals, accounting for a third of RegTech deals, Fraud related companies were second with three deals and identification technology was third with two deals. The two largest deals belonged to the identification technology subsector and accounted for 94% of RegTech investment in the region.

unico, a digital identity platform, was the largest RegTech deal in Latin America during 2022, raising $100m in their latest Series D funding round. The deal, led by GS Growth set their valuation at $2.6bn. “The new investment marks the growth journey we are on. We are now entering a new phase of our business. The partnership with Goldman Sachs favors the projection of unico into new international markets and brings us closer to the future in which we will be increasingly present in the lives of consumers,” said Diego Martins, unico’s CEO. unico said that it ended 2021 with a 180% increase in revenue, expanding its workforce by 230%, reaching a total headcount of 1,000, and closing one deal per business day.

RegTech news

• What could the impact of fraud in the metaverse be? - The development of technology in recent decades has seen us move from personal computers to virtual reality in a fairly short time frame. One key example of virtual reality – the metaverse – has begun to take hold. Read the full story here.
• Could the introduction of Gen AI into the cyber world spell danger? - In a world where the need to digitalise and as well as the desire to connect online is growing stronger and stronger, the cyber industry plays a vital role in that. Read the full story here.
• How firms are improving trade monitoring - As trade surveillance becomes an increasingly difficult task for firms, Eventus claims institutions are transforming their compliance processes to be more efficient. Read the full story here.

Regulation news

• European lawmakers secure agreement on green bond standards - Lawmakers in the European Parliament and the European Council have unveiled an agreement on the creation of standards for European Green Bonds. Read the full story here.
• Bank of Canada believes offline CBDC could boost financial inclusion - The Bank of Canada believes an offline Central Bank Digital Currency (CBDC) would help to boost financial inclusion. Read the full story here.
• UK’s FCA takes action against crypto ATMs in London - The UK’s Financial Conduct Authority (FCA) has made another move to crackdown on crypto ATMs by inspecting several sites in East London. Read the full story here.

RegTech Deal news

• Digital identity RegTech Socure collected $95m in 3-year credit deal - Digital identity and fraud solution developer Socure has collected $95m in a three-year credit facility with J.P. Morgan, Silicon Valley Bank and KeyBanc Capital Markets. Read the full story here.
• Compliance intelligent decision-making tool Droit nabs $23m - Droit, a RegTech company providing companies with intelligent decision-making tools for compliance, has raised $23m in its Series B round. Read the full story here.
• Cryptocurrency tax startup Toku nets $20m - Cryptocurrency tax and payroll platform Toku has secured $20m in a funding round led by Blockchain Capital. Read the full story here.

CyberTech news

• CyberTech Revelstoke Security nets $20m in Series B - Revelstoke Security, the creator of a security orchestration, automation and response platform, has secured $20m in a Series B funding round. Read the full story here.
• Cloud forensics pioneer Cado Security nets $20m - Cado Security, which claims to offer the first cloud forensics and incident response platform, has closed its latest funding round on $20m. Read the full story here.
• World first global insights infrastructure Monnai bags $6.5m - Monnai, which claims to be the world’s first global consumer insights infrastructure for financial institutions, has secured $6.5m in its Series A. Read the full story here.

Other RegTech news

• Are cashless payments leading to skyrocketing fraud? - A recent report by NICE Actimize has found that the rise of payments fraud is a growing concern for financial institutions and consumers alike. Read the full story here.
• RangeForce collects $20m to level up cybersecurity skills - RangeForce, which helps teams improve their cybersecurity skills, has scored $20m in its Series B funding round to bolster the expansion of its platform. Read the full story here.
• Schroders Personal Wealth taps AI-based Aveni Detect platform - Aveni has been selected by Schroders Personal Wealth to transform its compliance function through the deployment of the Aveni Detect platform. Read the full story here.