Regulatory Compliance Startup Cappitech Raises $4 Million
The Israel-based startup provides automated regulatory reporting technology for the financial services industry
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Following the investment, Markit co-founder Rony Grushka will join Cappitech's board of directors.
Founded in 2013 and headquartered in Herzliya, a city in central Israel, Cappitech provides automated regulatory reporting technology for the financial services industry. Clients can also use the company's service to analyze their daily trading data and monitor their reporting status.
The company intends to use the funding for product development, and to hire additional marketing and sales personnel, with a focus on Europe.
"It will enable us to extend our global reach and add even more functionality to our platform," said Cappitech CEO Ronen Kertis in a statement.