-GSS has raised over $47m /£37m in a Series A2 Funding Round
-John Fogarty joins the GSS board as the company attracts investment from Commonwealth Bank of Australia alongside previous investors
-Previous investors include AlixPartners, The Cynosure Group and MUFG
London, 25 March 2024 - Global Screening Services (GSS), a leading RegTech pioneer, announces the successful completion of its Series A2 funding round, raising over $47 million (approximately £37 million). Notable contributors include AlixPartners, Cynosure Group, and the latest addition, Commonwealth Bank of Australia (CBA).
This significant investment coincides with the company's transition from the development phase to the operational phase as the cloud-native platform prepares to go live with its inaugural clients.
Exciting Collaborations and Future Prospects
GSS has received significant support from existing investors, who continue to place confidence in the company's potential and progress to date. The shareholder base includes two major financial institutions, MUFG and CBA, reflecting the industry’s recognition of GSS' potential to transform compliance standards.
GSS will continue with its uniquely formed Advisory Board with more than 30 global financial institutions. The board have worked together since 2021 to create a common technology framework and agree standards for the financial sector. This will help enhance compliance and processing efficiency across the industry.
This funding milestone marks a pivotal moment for GSS as it officially transitions into operational mode, putting its progressive RegTech solutions into action.
For full press release, click here.
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