TAINA has taken investment from several of its top-tier financial institution clients.
The London firm, which featured on our RegTech 50 ranking, aims to transform the burden of regulatory compliance into a competitive advantage for financial institutions.
It does this by revolutionising their customers’ experience, eliminating risks, improving process efficiency and reducing costs.
It has now raised another round of funding with participation from HSBC Asset Management, Deutsche Bank CVC, SIX FinTech Ventures and Anthemis.
TAINA expects to welcome other institutions as investors and clients in Q1 2023.
“With this new injection of very supportive capital, TAINA is looking forward to achieving a number of objectives on its mission to grow as the best-in-class platform for the industry, for an expanding range of regulations, geographies and market segments,” said former tax lawyer Maria Scott, founder and CEO.
TAINA achieved its highest growth in customers in 2022.
“We are delighted to participate in TAINA’s latest funding round as follow-on investment and continued commitment to support the company in strengthening regulatory client lifecycle management in the industry,” said Joerg Landsch, head of central corporate venture capital at Deutsche Bank.
“Investing in selected FinTech solutions enables Deutsche Bank for example to improve the client experience and increase productivity by further digitalising our front-to-bank processes.”
Kara Byun, head of FinTech, venture & growth investments at HSBC Asset Management, added: “HSBC Asset Management is a firm believer in the principle of adhering to the highest standards of regulatory compliance.
“TAINA is well on its way to establishing a standard for experience in this space. Tax reporting and compliance is unavoidably complex, but TAINA’s digital design makes the process seamless.
“This investment round will help boost TAINA’s international footprint and support TAINA’s mission to provide pre-eminent tax-compliance solutions to more users.”
RegTech 50 – UK’s most innovative compliance technology creators for 2022