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Seismic Foundry Capital Markets FinTech Fund closed its final investment for the current tax year by acting as lead investor in RegTech start-up, Waymark Tech.
Waymark Tech develops software for companies in highly regulated industries and professional services firms with clients facing increasingly complex regulatory demands. Their flagship product, Wayfinder, is an AI engine that continually monitors and analyses regulatory changes and makes recommendations to ensure compliance using Natural Language Processing (NLP). Their relevance has been proven by acceptance into the Accenture FinTech Innovation Lab this year and being selected as one of the eight firms to pitch on their Graduation Day. They are currently working on a number of paid Proof of Concepts and securing their first clients to license the platform in the second quarter.
“Waymark Tech is a great example of a company using their deep understanding of a business problem to leverage the power of machine-learning. Thanks to their unique abilities, they are making regulatory compliance a less tedious job and so allow compliance officers to focus on what really matters”, said Cedric Maloux, CEO of StartupYard, an early investor in Waymark Tech.
“Waymark is delighted to have secured investment from the leading industry figures who make up Seismic Foundry. They really understand our space and the potential of our global regulatory intelligence platform. Seismic’s input on our strategy and model will help us to scale efficiently, bringing the power of Waymark to many more people in regulated firms across the world. The twists and turns of regulatory change and enforcement are not receding anytime soon and so the ability to parse the millions of pages of regulation to provide users with answers to their questions when they need the information most is invaluable.,” said Mark Holmes, Founder and CEO.
Brendan Bradley, a Co-founder of Seismic Foundry, commented, “Seismic are pleased to have completed our investments this tax year with our stake in Waymark. It is well documented that many of the alumni from the Accenture Innovation Lab have developed into leading FinTech firms, with associated success in their fund-raising activities, so we are enthusiastically looking forward to the ongoing journey. In addition, we are happy to be co-investing alongside Credo Ventures and StartupYard.”
Seismic Foundry is an early stage Capital Markets Fintech Fund that provides access to emerging Capital Markets FinTech for individuals and financial institutions. The Seismic Foundry Capital Markets FinTech SEIS Fund 2017-18 has now closed and funds are being raised for the 2018-2109 SEIS and EIS Funds.
