FundApps and SteelEye have announced a merger to create an end-to-end regulatory compliance platform, marking one of the most significant consolidations in the RegTech industry.
The deal unites two of the most innovative players in compliance monitoring, surveillance, and reporting, backed by existing FundApps investor FTV Capital, which provided additional equity investment to support the transaction.
The combined entity will deliver a single, integrated platform covering trade surveillance, communications monitoring, regulatory reporting, and analytics. The aim is to provide clients across the buy-side and sell-side with complete visibility and control over their compliance functions, reducing reliance on fragmented systems and manual processes.
According to the companies, the merger represents a major step towards simplifying regulatory complexity for financial institutions worldwide. By combining their expertise, FundApps and SteelEye plan to enable more automation and transparency, while addressing the growing compliance challenges faced by financial institutions under tightening global regulations.
FundApps founder and CEO Andrew Patrick White said, “This is a transformative step for our clients and the RegTech industry. By bringing together complementary strengths in reporting, monitoring, and surveillance, we are building a single platform that addresses the full compliance lifecycle and unlocks new capabilities for our clients. While many providers rely on multiple, loosely connected systems, we are creating a unified ecosystem that simplifies regulatory complexity at scale and delivers the end-to-end capability the market has been asking for – all from one trusted partner.”
SteelEye founder and CEO Matt Smith added, “We are incredibly excited about the merger. FundApps and SteelEye share a common vision to empower financial institutions through data-driven innovation. By merging our teams, technology, and expertise, we are creating a RegTech powerhouse with the depth and breadth to meet the evolving needs of our clients on a global scale.”
The merger follows FTV Capital’s earlier investment in FundApps, which also saw the firm appoint three senior leaders — Brad Bernstein, managing partner at FTV Capital, Richard Earnshaw, partner at FTV Capital, and Max Weber, vice president at FTV Capital — to FundApps’ board of directors.
The newly combined organisation will serve over 350 clients, including leading banks, hedge funds, asset managers, and commodities firms across 18 countries. With a combined annual recurring revenue approaching £50m, the group will operate from key offices in London, New York, Singapore, India, and Portugal, positioning it as a major global player in the RegTech sector.
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