SteelEye, a compliance technology and data analytics firm, has announced a record year of growth. Revenues increased 88 per cent year-on-year in 2021 and the company now has over 120 institutional clients worldwide, with new clients including Oppenheimer Europe Ltd and JonesTrading.
SteelEye – which is headquartered in the UK and has offices in London, New York, Paris, Bengaluru, and Braga – has seen increasing demand for its services as financial firms’ regulatory compliance needs have grown across the globe. In response, the business expanded to the United States last year, backed by USD17 million funding rounds in 2020, and appointed RegTech veteran Brian Lynch to lead its US operations.
SteelEye expects another year of strong growth in 2022 as continued regulatory pressure and more pervasive adoption of cloud drives an increasing number of firms to upgrade their compliance capabilities.