Key European RegTech investment stats in H1 2026:
- European RegTech deal activity increased 9% in H1
- UK retained its position as the main European RegTech hub as companies based in the country secured 25% of all deals
- Duna, a RegTech company building trust infrastructure for the digital economy, raised $35.5m in a Series A round that ranks it as one of the top European RegTech deals of the period
European RegTech deal activity increased 9% in H1
European RegTech companies raised $440.2m across 87 deals in H1 2026.
Funding rose 10% from $399m in H1 2025 but fell 36% compared to H2 2025 figures when total capital invested reached $693.2m.
Deal volume edged up 2% from 85 transactions in H1 2025 and 9% from 80 in H2 2025.
The modest year-on-year gains in both funding and deal activity suggest a sector that has maintained a degree of stability, while the sharper sequential decline in capital raised points to H2 2025 being an outlier driven by larger transactions that did not carry through into the first half of this year.
UK retained its position as the main European RegTech hub as companies based in the country secured 25% of all deals
UK retained its position as the most active European RegTech market in H1 2026, recording 22 deals and a 25% share of total activity.
This compares with 23 deals and a 27% share in H1 2025, a marginal 4% dip in volume and a slight narrowing of its proportional standing.
France climbed into second place in H1 2026 with 12 deals and a 14% share, having not featured in the top three in H1 2025.
Its emergence as the second most active market is one of the more significant shifts in the ranking over the period.
Spain entered third place with nine deals and a 10% share, also absent from the equivalent ranking a year earlier.
Germany, which had held second place in H1 2025 with nine deals and an 11% share, dropped out of the top three, as did the Netherlands, which had sat third with seven deals and an 8% share.
The shift below the UK, with France and Spain replacing Germany and the Netherlands, points to a notable transition where European RegTech investment is concentrating, with southern and western European markets gaining ground at the expense of the region’s more established technology hubs.
Duna, a RegTech company building trust infrastructure for the digital economy, raised $35.5m in a Series A round that ranks it as one of the biggest European RegTech deals of the period
The round was led by CapitalG, Alphabet’s independent growth fund, with existing backers Index Ventures and Puzzle Ventures, as well as Snowflake chairman Frank Slootman, also participating.
Founded in 2023 by two former Stripe executives, Duna provides a digital passport for businesses, enabling organisations to verify, share and reuse identity information securely, with the longer-term ambition of building a network that allows one-click onboarding across the digital economy.
Its AI-native platform is already in use at large banks, FinTechs and financial institutions, with clients including Plaid, Fiserv subsidiary CCV, Moss, Bol and SVEA Bank reporting onboarding speeds more than ten times faster than before.
The RegTech case is compelling: compliance and identity checks can account for as much as 10 to 20% of a bank’s total costs, and manual legacy systems leave firms exposed to fraud, regulatory fines and the loss of legitimate customers through unnecessary refusals.
The fresh capital will be used to expand Duna’s enterprise capabilities, with a focus on building compliant and auditable AI that meets the regulatory standards demanded by banks and large enterprises.
The company operates across Germany and the Netherlands.
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Copyright © 2026 RegTech Analyst
Copyright © 2026 RegTech Analyst
