Datactics to get £1.2M from Par Equity and Kernel Capital.

Datactics, a Belfast, Northern Ireland, UK-based software provider of RegTech solutions for the banking and financial services sector, raised £1.2 million ($1.5M).

The money was raised from investors led by The Bank of Ireland Kernel Capital Growth Fund (NI) and Par Equity.

The proceeds will be used to facilitate R&D and hire additional key personnel as it builds upon its international customer base across Europe and the US and the opening of two new offices in Milan and New York.

Datactics, founded in 1999 and led by CEO Stuart Harvey, provides data quality and matching software to allow financial firms to measure, clean and match data ahead of a regulatory reporting, business intelligence or analytics process.

The company’s solutions combine its data quality and matching software with specialist regulatory knowledge to help multiple international Tier 1 financial firms comply with regulations including BCBS 239, MiFID II, and AML/KYC. They are automated and customizable, connecting to a wide range of data types and sources, and offer usability for business users in banks, fund managers and government departments.