London-based Reg UK provides a range of data analytics and risk management solutions to insurance and financial services companies globally. Founded in 2013, the regtech startup has just completed a €2.7 million funding round from existing investor Disruptive Capital Finance.
REG aspires to become the go-to solution for insurers and intermediaries looking to simplify compliance and management processes between insurers, brokers and customers. Already, the startup counts major clients across the UK and in international markets, including ageas, PIB Group, Lloyds and GRP, helping them to effectively comply with commercial, regulatory and legal requirements.
The additional capital will be used to further develop REG’s platform and hire new talent to accelerate the startup’s growth in the UK and globally.
REG currently employs 35 people, and continues to disrupt the insurance marketplace by accelerating due diligence processes and enhancing ongoing risk management through advanced data analytics and monitoring tools.
“REG has a compelling and market leading position in a fast growing sector,” said Edi Truell, Founder of Disruptive Capital Finance. “We are delighted with its progress since our initial investment and we look forward to actively supporting its continued success.”
“This facility not only provides scope for further growth but is also a validation of what we’ve already achieved,” said Michael Phair, CEO of REG. “Whilst venture debt isn’t readily available on the high street or from our main bankers, fast growth businesses like REG, with high levels of annual reoccurring revenue need this type of support to scale-up and succeed – particularly internationally.”